India, July 9 -- Crude oil price moved a little higher on Wednesday, supported by EIA data supporting strong gasoline demand.
WTI Crude Oil for August delivery inched up by $0.05 to settle at $68.38 per barrel today.
September month Brent Crude contract was last seen trading, up by $0.06, to $70.21 per barrel today.
US President Donald Trump stated that he is planning to impose a new 50% tariff on all copper imports to the US. This could make electronic goods, machinery, and cars expensive in the US. He also added that 200% tariffs on pharmaceuticals are coming "very soon".
If inflation increases, the demand for oil and energy can take a hit.
With Trump extending his "reciprocal" tariff pause to August 1, the EU and India are working v...