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Analyst: The impact of U.S. tariffs on oil prices may be bidirectional.
Jin10 data reported on August 1st, this morning the oil price opened with almost no changes, with Brent crude oil prices close to 72 USD/barrel. Analysts say that the impact of tariffs on crude oil is two-way. As the broad impact of trade tariffs is expected to slow down economic growth, this will negatively affect oil demand. However, other related penalties from the United States—especially those threatening penalties against buyers of Russian oil—could disrupt supply, thereby supporting oil prices.