Oil prices trend down following Gaza truce

Trump has imposed a 50 per cent tariff on most exports from India, among the highest for any US trading partner. The tariffs were doubled from 25 per cent over New Delhi’s continued imports of Russian oil.

The US also imposed sanctions on about 100 individuals, entities, and vessels, including a Chinese independent refinery and terminal, that helped Iran’s oil and petrochemicals trade, the Trump administration said on Thursday.

(Reporting by Stephanie Kelly in London, Florence Tan in Singapore and Georgina McCartney in Houston; Editing by Mark Potter, Jane Merriman, Nick Zieminski, William Maclean and David Gregorio)