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UPDATE 1-Oil falls after Trump threatens to escalate trade war with new tariffs

CNBC

tariffs@ * Trump threatens tariffs on another $200 bln of Chinese goods * Trade tensions are dragging on commodity markets * U.S. could also consider waivers on sanctions against Iran (Recasts; adds comment, graphic; updates prices) TOKYO, July 11 (Reuters) - Oil prices fell on Wednesday, with Brent dropping by more than $1 at one point, after U.S. President Donald Trump threatened to levy new trade tariffs on China. The specter of tariffs on a further $200 billion worth of Chinese goods sent commodities lower along with stock markets, with trade tensions between the world's two biggest economies intensifying. Brent crude futures were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT,