Oil Prices Jump After Trump Imposed Tariffs on Canada, Mexico and China

  • International
  • 3 February 2025
1

Oil prices jumped on Monday after U.S. President Donald Trump imposed tariffs on Canada, Mexico, and China, raising fears of a trade war and disruption of crude supplies from two major U.S. suppliers.

Expectations of lower fuel demand capped gains, with U.S. West Texas Intermediate crude rising 2 percent, or $1.44, to$73.97 a barrel, after hitting a one-week high of $75.18 earlier in the session. Brent crude futures rose 0.8 percent, or 62 cents, to $77.34 a barrel.

Source (Al-Arabiya.net Website, Edited)

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