Oil reference marks recovered on Friday after sharp losses the day before, caused by the US plans to impose new import duties on Chinese goods.

October futures for Brent on London’s ICE Futures exchange to 14:14 GMT rose $1.73 (2.86 percent) to $62,23 per barrel.

The cost of the futures on WTI for September on the electronic session on the new York Mercantile exchange (NYMEX) has increased by this time to $1,38 (2,56%) to $55,33 per barrel.

On Thursday Brent fell in price almost on 7%, crude fell nearly 8% on the statements of the President of the United States Donald trump’s intention to introduce a new fee at the rate of 10% on imported goods from China worth $300 billion a year. The President stressed that the new duties will affect goods for which they have not been entered yet.

The decline of both brands on Thursday was a record for four years.

At the same time, the President said that “the United States look forward to continuing positive dialogue with China on a comprehensive trade agreement.” “We feel that the future for our two countries is very bright,” said trump.

The deterioration of relations between the two biggest economies in the world may adversely affect world trade and the growth of global GDP, which will affect the demand for fuel, fear market participants.

“Fears of slowing demand growth remain the most important factor for the market, offsetting the effect of the instability of supply,” said Julius Baer analyst Carsten Menke.

Since the beginning of the week, Brent fell in price by 1.7%, WTI – by 1.5%.