Oil stable as concern about the tariff effects that fight with the threats of the Russian delivery

Oil prices were not changed on Friday much after falling more than 1% in the previous session, because traders digested the impact of new higher American rates that could limit economic activity and reduce the worldwide growth of fuel demand.

Brent raw futures rose 4 cents, or 0.06%, up to $ 71.74 per barrel with 1201 GMT. US West Texas Intermediate Rudius rose 1 cent or 0.01%to $ 69.27.

Nevertheless, Brent prices for the week will win 4.9%, while WTI will climb with 6.4% earlier this week after US President Donald Trump threatened to place rates for buyers of Russian crude oil, in particular China and India, to persuade Russia to stop his war against Ukraine.

On Friday, however, investors were more focused on imposing Trump due to new and mostly higher, rate rates for US trading partners who will come into effect on 1 August.

On Thursday, Trump signed an executive order that imposed rates from 10% to 41% for the entry of the US from dozens of countries and foreign locations, including Canada, India and Taiwan who had not reached the trade agreements by his deadline of 1 August.

Some analysts have warned that the taxes will limit economic growth by increasing prices that would weigh on oil consumption. On Thursday there were signs that existing rates put all prices under pressure in the US, the world’s largest economy and oil companies. American inflation increased in June, because rates increased prices for imported goods, such as household furniture and recreational products. This is a supporting views that would collect the price pressure in the second half of the year and delay the Federal Reserve by reducing interest rates until at least October.

Maintaining interest rates would also affect oil, because the higher loan costs can limit economic growth.

At the same time, Trump’s threats to impose 100% secondary rates on Russian raw buyers have the prices supported because of concerns that the oil trade flows would disrupt and remove some oil from the market.

In a note on Thursday, JP Morgan -analysts said Trump’s warnings to China and India with fines on their continuous purchases of Russian oil, which may jeopardize 2.75 million barrels a day of the export of the Russian sea drilling oil. The two countries are the second and the third largest rough consumers in the world respectively.

“The Trump administration, just like its predecessors, will probably sanction the second largest oil exporter in the world in the world without the oil prices of the oil,” the analysts said, referring to Russia.