The reciprocal tariffs that the world has been holding its breath about are here, stock markets are reeling, and crude oil took a dive. The question now is whether tariffs will hurt oil demand for longer or whether the effect will be transitory, with prices rebounding before long. For now, a majority of observers appear to agree that the tariffs that U.S. President Donald Trump imposed on all of the country’s trade partners would hurt oil demand quite seriously and continue hurting it for their duration. The International Monetary Fund came…
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