Oil prices fall after U.S. imposes tariffs on China, Beijing retaliates - MarketWatch

1. U.S. imposed 10% tariff on China, prompting China's retaliation. 2. Crude prices fell despite prior gains due to intensified trade tensions. 3. Analysts note that Canadian oil is crucial for U.S. refiners. 4. Concerns about reduced demand due to tariffs impact WTI crude pricing. 5. Market volatility increases amid fears of escalating trade friction.