India, March 4 -- Oil prices fell sharply on Tuesday amid growth concerns and expectations of excess supply in the market.
WTI crude futures were down 1.2 percent at $67.53 in European trade after falling 2 percent on Monday. Benchmark Brent crude futures fell 1.4 percent to $70.61 a barrel.
Concerns over global economic growth and fuel demand mounted as fresh U.S. tariffs came into effect, with Canada and China announcing retaliatory measures.
Canada announced 25 percent tariffs on $107 billion worth of U.S. goods, with $20.7 billion in immediate effect. Mexican President Claudia Sheinbaum said her country is preparing countermeasures.
China has announced 15 percent tariffs on U.S. chicken, wheat, corn and cotton, plus 10 percent cent ...