Reported 1 day ago
Oil prices saw a slight increase following a series of weekly declines, as the market assessed the impact of President Trump's tariffs. Brent crude approached $75 per barrel after experiencing its longest losing streak since September, while West Texas Intermediate remained above $71. The upcoming Chinese tariffs on US goods, along with Trump's additional proposed tariffs on aluminum and steel, may further affect the US energy sector, particularly oil drilling companies reliant on imported steel. Speculative trading has also shifted, with many investors betting against US oil benchmarks amidst a weaker demand outlook.
Source: YAHOO