Trade tensions are catching up to the price of oil, snapping a streak of steady gains for crude on Wednesday. File Photo by John Angelillo/UPI | Aug. 8 (UPI) — New trade measures imposed by the U.S. government and a build in U.S. gasoline supplies helped pull the price of oil lower before markets opened Wednesday. The Office of the United States Trade Representative released a list on Tuesday of $16 billion worth of imports from China that will be subject to a 25 percent tariff, escalating trade tensions between the world’s two leading economies. The latest tranche of tariffs comes after the United States imposed $34 billion in tariffs on Chinese products including industrial machinery, office equipment, electronics, medical devices and vehicles on July 6. Beijing promptly responded with its own taxes on U.S.-made aircraft, cars, computer chips, fuel, pork and soybeans. Tit-for-tat trade measures could undermine broader […]