Oil edges lower as traders weigh impact of Trump tariffs

Brent futures settled down 28 cents, or 0.37%, at US$74.49 a barrel. US West Texas Intermediate crude futures fell 28 cents, or 0.39%, to US$71.20.

NEW YORK: Oil prices edged lower on Tuesday as traders braced for reciprocal tariffs that US President Donald Trump is due to announce on Wednesday, which could intensify a global trade war.

However, Trump's threats to impose secondary tariffs on Russian oil and to attack Iran fueled supply worries, limiting losses.