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Reuters
Oil is recovering from its lowest levels in years
Oil prices rose about 2% on Friday, following the largest drop recorded yesterday after the announcement by US President Donald Trump of the imposition of new tariffs on Chinese products. .
By 6:57 GMT, Brent was up 2 percent to 61.71 dollars a barrel, while the futures price of US crude was up 1.6 percent to 54.82 dollars a barrel.
Brent prices fell more than 7% on Thursday, their biggest drop in three years, while US crude fell 8%, its worst day in more than four years.
Trump announced on Thursday that it would impose an additional 10% surtax on imports from China, worth $ 300 billion in early September, while negotiations between Washington and Beijing continue to settle the commercial war.
The announcement of Trump almost all Chinese exports to the United States, in the sudden development of a temporary truce to the trade war, which disrupted global supply chains and disrupted financial markets .
Stephen Inis, managing partner at VM Markets, said the rise in oil prices was a sign that investors were rebadessing Trump's announcement and its impact, pointing out that investors had returned to concentration on economic data.
Source: Reuters
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