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Oil prices decline amid Trump's tariff expansion
Oil prices are sliding after President Trump hit 14 countries with new tariffs on things like copper and semiconductors.
The move has people worried about a global slowdown, which could mean less demand for oil.
Brent crude is now at $69.97 a barrel, and US crude sits at $68.11.
Traders are closely watching how the tariff situation plays out
These tariffs are raising fears of inflation, which might push interest rates up and make borrowing costlier.
That could lead to people and businesses using less oil—something traders are watching closely as trade tensions rise.
US gasoline demand just shot up 6%
Even with all the tariff talk, Americans are driving more—gasoline demand just shot up 6% to 9.2 million barrels a day.
Plus, global flight numbers hit a record high this year, showing travel and trade aren't slowing down just yet.