Oil picks up after the decline in the previous session because of US taxes

Oil prices rose about 2% on Friday, after posting the biggest losses since US President Donald Trump imposed more tariffs on imports from China, causing a trade war between the two countries. two largest global economies and crude consumers.

Brent crude futures fell more than seven percent on Thursday, its biggest drop in more than three years. West Texas Intermediate crude futures fell by nearly 8%, marking their worst daily performance for more than four years.

This plunge has put an end to a fragile recovery driven by a steady decline in US stocks, although global demand seems to be shaken by the trade dispute.

Brent crude rose $ 1.21, or 2%, to $ 61.71 a barrel, while US crude futures rose 87 cents, or 1.6%, to $ 54.82 a barrel. the barrel.

Trump announced Thursday that it would impose a 10% charge on Chinese imports, worth $ 300 billion as of September 1, and that these taxes could increase further if Chinese President Xi Jinping did not act faster to reach a trade agreement.