The prices of oil futures declined on Tuesday as concerns about the outlook for demand were heightened by ongoing uncertainty surrounding trade talks. Investors are keeping a close eye on this week’s EU-US trade negotiations as they attempt to reach an agreement before the deadline of August 1, when US President Donald Trump has threatened to impose 30% tariffs on the majority of the bloc’s exports. In other news, Iran said Monday it will begin nuclear negotiations with European nations this week in an attempt to resurrect the 2015 nuclear agreement and prevent the introduction of new international sanctions. West Texas Intermediate (WTI) for September’s settlements dropped by 1.09% at 4:48 am ET to sell for $65.16 per barrel. At that minute, Brent for September’s deliveries decreased by 1.27% to go for $68.44 per barrel.
NN: demand is their. This is more bogs trade war scare tactics.