Oil slips after rally as Trump tariff deadline looms Aug 1
Brent and WTI crude futures slipped 0.5% and 0.6% on Tuesday after a Monday rally, as Trump's looming Aug 1 tariff deadline on US trading partners reignited global trade fears. Despite Saudi's price hike and strong US travel demand, oil sentiment remains weak. Retail traders on Stocktwits are 'extremely bearish' on oil ETFs like USO amid recession risks.