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Barchart
Rich Asplund

Crude Oil Prices Fall on Concern Tariffs Will Slow Growth and Energy Demand

Oil United States OPEC Donald Trump Iraq EIA

August WTI crude oil (CLQ25) today is down -1.01 (-1.50%), and August RBOB gasoline (RBQ25) is down -0.0306 (-1.44%).

Crude oil and gasoline prices today are falling for a second session, with gasoline dropping to a 2-week low.  Crude oil prices are being undercut by concern that President Trump's tariff policies will lead to slower global economic growth and reduced energy demand.  President Trump recently said that reciprocal tariffs will increase on August 1 for countries that have not clinched trade deals with the US.  Today's weaker dollar is helping to limit losses in crude oil prices.

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