Post: Oil Prices Decline as Investors Continue to Fret over Tariff Impact

Doha: Oil prices fell on Monday as concern about the impact of US import tariffs on global economic growth and fuel demand, as well as rising output from OPEC+ producers. Brent crude fell 25 cents, or 0.4%, to $70.11 a barrel after settling up 90 cents on Friday. US West Texas Intermediate crude was at $66.76 a barrel, down 28 cents, or 0.4%, after closing 68 cents higher in the previous trading session. According to Qatar News Agency, WTI declined for a seventh successive week, the longest losing streak since November 2023, while Brent was down for a third consecutive week after US President Donald Trump imposed then delayed tariffs on its key oil suppliers Canada and Mexico while raising taxes on Chinese goods. China retaliated against the US and Canada with tariffs on agricultural products.