New York — Oil prices fell more than 1% on Friday after US President Donald Trump threatened new tariffs on China, reigniting fears of a trade war between the world’s two largest economies that could hurt global growth. Trump said on Thursday he had ordered US trade officials to consider tariffs on an extra $100bn of imports from China, escalating tensions with Beijing. "The heightened possibility of an outright tariff war is conjuring up images of slowed economic growth that could curtail the strong oil demand that has helped to revive a strong pricing environment during the past couple of months," said Jim Ritterbusch, president of Ritterbusch and Associates. Brent crude futures fell 98 cents to $67.35 a barrel, a 1.4% loss, by 3.28pm GMT. US West Texas Intermediate (WTI) crude futures fell $1.27 to $62.27 a barrel, a 2.0% loss. Both are headed for their biggest weekly fall since early February. US stock indexes also fell on trade war jitters, which weighed on oil prices. Crude fu...
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