India, July 16 -- Oil prices traded lower on Wednesday as tariff-related worries overshadowed expectations of firm summer demand in the world's two largest consumers, the United States and China.
Brent crude futures for September delivery fell half a percent to $68.39 a barrel, while WTI crude futures for August delivery were down 0.4 percent at $66.27.
Investors remain concerned that escalating U.S. tariffs on trading partners could hamper global economic growth and consequently dampen oil demand.
However, the downside was partially cushioned by expectations of consistent demand from the U.S. and China as summer travel and industrial activity peak.
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