India, July 8 -- Oil prices declined on Tuesday after rising in the previous session as Saudi Arabia surprised customers in Asia by hiking prices for its main crude grade.
Benchmark Brent crude futures for September delivery were down 0.6 percent at $69.15 in European trade as traders assessed the combined impact of trade uncertainties, a surprise output move by OPEC+ and an escalation of hostilities in the Red Sea. WTI crude futures for August delivery fell 0.6 percent to $67.51.
Focus returned to U.S. tariffs after U.S. President Donald Trump on Monday announced plans to impose significantly higher tariffs on imports from 14 countries starting August 1. Originally set for July 9, the deadline has now been extended to August 1.
Investor...