Oil prices fell below $70 on international markets today as investors worried about the announced wave of US tariffs.
On the London market, the price of a barrel for delivery in November was $1.90 lower than yesterday, at $69.80.
On the US market, a barrel was trading at $1.77 lower today, at $67.49.
US President Donald Trump’s executive order foresees tariffs on goods from 69 trading partners ranging from 10 to 41 percent.
This would raise the average US tariff, according to forecasts by analysts at “Kapital Ekonomiks”, to around 18 percent from last year’s 2.3 percent.
The new tariffs will come into effect on August 7.
The US central bank has warned that the tariffs could fuel inflation.
