![Addition of more tariffs in trade war bring down oil prices](https://cdn.energydais.com/media/images/news/109_xwdAdrW.jpg)
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The new tariffs imposed by the US and China have come into effect. It is seen as a threat to the global economy and demand for crude. This activity led to a decline in oil prices on Monday. Brent went down by 0.5%, to $58.98 a barrel. WTI declined to $55.083barrel. Trump has made an appeal to the American companies to reduce their reliance on China and find alternate suppliers.