Oil prices fall further as U.S.-China tariff escalation fuels demand concern
By Rob Williams,
Oil prices extended their recent slide on Wednesday, dropping further below the $60 per barrel mark, as rising tensions between the United States and China raised new concerns about global energy demand.
The decline followed President Donald Trump’s announcement that the U.S. will proceed with 104% tariffs on a broad range of Chinese imports, a move that escalates the ongoing trade conflict between the world’s two biggest economies. The tariffs are set to take effect shortly after midnight Eastern Time.
