Reported about 13 hours ago
U.S. President Trump's recent tariffs on Canadian and Mexican oil imports are expected to boost competitiveness for European and Asian refiners at the expense of U.S. operations. Analysts indicate that the 25% tariff on Mexican crude and 10% on Canadian crude will increase production costs for U.S. refineries, potentially leading to reduced profit margins, while allowing European and Asian refiners to capitalize on discounted crude. This trade policy could shift import dynamics, with U.S. refiners facing challenges in meeting their crude needs, while refined product prices could rise for U.S. consumers.
Source: YAHOO