Oil prices recover after the biggest loss in 4 years

Oil prices rose 2 percent on Friday, after posting the biggest losses in recent years, as US President Donald Trump imposed more tariffs on imports from China.

Brent crude futures fell more than 7% on Thursday, their biggest decline in more than three years.

West Texas Intermediate crude futures prices fell 8%, reaching their worst daily performance in 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 rose 87 cents, or 1.6%, to $ 54.82 a barrel.

Trump said on Thursday: "It will apply a 10% tax on Chinese imports, worth $ 300 billion as of September 1. These fees could increase further if Chinese President Xi Jinping did not act anymore. quickly to reach a trade agreement. "