• Oil prices are giving up their gains and heading for a weekly low


    The US crude prices fell on Friday. These are continuing losses for the fourth day as Asian stock markets continued to plummet after the news of the US intention to impose tariffs on the importations of steel and aluminum, which raised fears of a trade war.

    The US President Donald Trump announced that he would impose a huge charge on the mineral to protect American producers. This is a warning of a reaction from major trading partners such as China, Europe and Canada.

    Brent crude fell 2 cents to $ 63.81 a barrel by 0740 GMT, after staying slightly higher most of the session.

    The contract was settled down 1.4 percent on Thursday, the lowest level in two weeks. Brent is heading for a weekly drop of 5.2 percent.

    The US WTI fell 11 cents, 0.2 percent, to $ 60.88 after hitting a two-week low of $ 60.18 a day earlier.​

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