Oil rose a second day as President Donald Trump declared 30% tariffs on imports from the European Union and Mexico over the weekend, ahead of a “major statement” on Russia.
Brent gained as much as 0.6% — after adding 2.5% on Friday — to trade near $71 a barrel while West Texas Intermediate was near $69. Trump said the rates on Mexico and the EU would start Aug. 1, dashing optimism that 11th-hour agreements could be reached in a threat to oil demand.
www.bloomberg.com
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