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Oil falls on trade fears after Trump's tariff threat

Reuters  |  TOKYO 

TOKYO (Reuters) - Oil prices fell on Wednesday, with Brent dropping by more than $1 at one point, after U.S. President Donald Trump threatened to levy new trade tariffs on China.The spectre of tariffs on a further $200 billion worth of Chinese goods sent commodities lower along with stock markets, as trade tensions between the world's two biggest economies intensified.Brent crude futures were down 65 cents, or 0.8 percent, at $78.21 a barrel by 0627 GMT, having fallen to as low as $77.60. U.S. crude was down 43 cents, or 0.6 percent, at $73.68. "The trade concerns have bitten today and the ...

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First Published: Wed, July 11 2018. 12:10 IST