Oil rose for the second consecutive day, with President Donald Trump declaring 30% tariffs on imports from the European Union (I) and Mexico over the weekend before a “big statement” about Russia.
The Brent rose 0.6%-after a 2.5% increase on Friday (11)-being negotiated close to $ 71 the barrel, while West Texas Intermediate (WTI) was close to $ 69.
Trump stated that fees for Mexico and EU would take effect on August 1, frustrating the optimism that last -minute agreements could be signed, which would threaten the demand for oil.
Concerns that the next few days can bring a new wave of unilateral communications of the White House, defining levels of tariffs over countries that the president has determined that they are no longer worthy of negotiations.
Trump can announce new sanctions to Russia with a bill – approved by at least 85 senators – proposing 500% rates to China and India if they make any Russian energy purchase.
