Oil drops amid investor concerns over global demand

Oil prices have declined due to investor concerns about global demand amid uncertainty in trade relations between countries.

Report informs, citing the trading data, that the price of September futures for Brent crude fell by 0.65% to $68.76 per barrel, while September futures for WTI dropped by 0.71% to $65.48.

Earlier, Donald Trump extended the temporary suspension of increased import tariffs on foreign goods until August 1 and sent notifications to several countries about raising tariffs starting from that date.