Oil prices rise after earlier losses
Xinhua,March 03, 2018 Adjust font size:
NEW YORK, March 2 (Xinhua) -- Oil prices climbed slightly on Friday after recovering from earlier losses.
Oil prices were pressured lower along with the equity market in the morning session on Friday after U.S. President Donald Trump announced steep tariffs on steel and aluminum imports.
Trump said on Thursday he would impose 25 percent of tariff on steel imports products and 10 percent on aluminum as early as next week.
Many concerned that the planned tariffs would raise prospects of a trade war and hurt the U.S. economy.
The West Texas Intermediate for April delivery increased 0.26 U.S. dollar to settle at 61.25 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery added 0.54 dollar to close at 64.37 dollars a barrel on the London ICE Futures Exchange. Enditem