Oil Prices Steady Amid Ukraine Uncertainty Ahead of Trump's Tariffs
Oil prices were steady at the start of the week as traders weighed the outlook for Russia’s war in Ukraine ahead of President Donald Trump’s tariffs on US trading partners, which will likely lead to retaliatory measures. The market is bracing for a potential surge in costs for refiners, particularly if levies are imposed on Canadian and Mexican oil imports. However, the impact of these tariffs is still unclear, as traders await signs of spending plans by China.
- The ongoing uncertainty surrounding Ukraine could continue to weigh on global energy markets, making it challenging for producers to predict pricing trends.
- How will the global response to Trump's trade policies impact the trajectory of the oil market in the coming months?