WASHINGTON (dpa-AFX) - Oil prices struggled for direction on Friday after a 2 percent drop on Thursday, driven by tariff uncertainty, concerns over slower Chinese demand and OPEC's reduced oil demand forecast.
Brent crude futures for September delivery were little changed at $8.63 a barrel in European trade, while WTI crude futures for August delivery were up 0.1 percent at $66.61.
A modest uptick in the dollar index kept oil prices under pressure after U.S. President Donald Trump announced a 35 percent tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20 percent on most trading partners that haven't got letters yet.
Trump also said he would make an announcement regarding Russia, raising the prospect of more sanctions on the major oil producer.
Trump told NBC News that the U.S. will be 'sending weapons to NATO, and NATO is paying for those weapons 100 percent . then NATO is going to be giving those weapons [to Ukraine].'
Meanwhile, media reports suggest that Congress is exploring new sanctions in a bill currently working its way through the Senate.
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