Oil prices rise 1% after five-day losing streak; markets eye Trump’s trade stance

Oil prices rose about 1% on August 7 following five consecutive sessions of losses.

October futures for Brent crude climbed 0.84% to $67.45 per barrel, while September WTI futures rose 0.95% to $64.96. Both benchmarks had fallen a combined 9.2% over the previous five trading days.

Traders are closely watching U.S. President Donald Trump’s recent trade actions, including a new 25% tariff on Indian imports in response to India’s purchases of Russian oil, and the possibility of new tariffs on China.