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Oil Poised for Third Weekly Gain Ahead of Trump’s Tariffs

Bloomberg · last updated

Oil fell on concerns that the Trump administration’s tariff onslaught will reduce energy demand.

West Texas Intermediate slid below $70 a barrel, retreating along with equity markets. Crude still was on pace for its third straight weekly advance amid waning expectations of a near-term oversupply. The US is planning to impose tariffs on auto imports and so-called reciprocal levies next week, widening the global trade war.

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