Reported about 10 hours ago
US crude oil prices increased sharply following President Trump's announcement of tariffs that could disrupt supply from Canada and Mexico, the two largest foreign suppliers. West Texas Intermediate's price hike outpaced Brent crude's, highlighting concerns over reduced supply levels, especially as Canada and Mexico collectively provide nearly 5% of the global market's crude. Analysts predict that Canadian oil producers might reduce prices to maintain exports to the US, while rising crude costs could lead to increased consumer gasoline prices.
Source: YAHOO