{"id":111331,"date":"2025-02-03T14:13:11","date_gmt":"2025-02-03T10:13:11","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=111331"},"modified":"2025-02-03T14:13:15","modified_gmt":"2025-02-03T10:13:15","slug":"oil-prices-rise-as-trump-tariffs-fuel-supply-concerns","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-rise-as-trump-tariffs-fuel-supply-concerns\/02\/03\/market-updates\/","title":{"rendered":"Oil Prices Rise as Trump Tariffs Fuel Supply Concerns"},"content":{"rendered":"\n

<\/h3>\n\n\n\n

Oil prices climbed on Monday<\/strong> as U.S. President Donald Trump imposed tariffs on Canada, Mexico, and China<\/strong>, raising fears of potential supply disruptions<\/strong>. However, concerns over a broader trade war<\/strong> limiting global economic growth capped gains<\/strong>.<\/p>\n\n\n\n

Key Oil Price Moves:<\/strong><\/h3>\n\n\n\n
    \n
  • Brent crude futures<\/strong> rose 1.03%<\/strong> to $76.45 per barrel<\/strong> (0933 GMT), after hitting a high of $77.34<\/strong>.<\/li>\n\n\n\n
  • West Texas Intermediate (WTI) crude<\/strong> jumped 1.88%<\/strong> to $73.89 per barrel<\/strong>, touching $75.18<\/strong>, its highest since Jan. 24<\/strong>.<\/li>\n\n\n\n
  • U.S. gasoline futures<\/strong> spiked 2.5%<\/strong> to $2.11 per gallon<\/strong>, reaching a high of $2.162<\/strong>, as supply fears intensified.<\/li>\n<\/ul>\n\n\n\n

    What\u2019s Driving Oil Prices?<\/strong><\/h3>\n\n\n\n
      \n
    1. Trump Tariffs on Energy Imports<\/strong>\n
        \n
      • 25% tariffs<\/strong> on most Mexican and Canadian goods<\/strong>.<\/li>\n\n\n\n
      • 10% tariff<\/strong> on energy imports from Canada<\/strong> and Chinese goods<\/strong> (effective Feb. 4<\/strong>).<\/li>\n\n\n\n
      • Impact:<\/strong> Raises costs for heavier crude grades<\/strong> needed by U.S. refiners<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
      • Potential Impact on U.S. Gasoline Prices<\/strong>\n
          \n
        • Canada and Mexico supply 25% of U.S. crude imports<\/strong>.<\/li>\n\n\n\n
        • Tariffs could disrupt refining operations<\/strong>, raising fuel prices<\/strong>.<\/li>\n\n\n\n
        • Analyst View:<\/strong> Rystad Energy’s Mukesh Sahdev<\/strong> warns of higher U.S. pump prices<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
        • OPEC+ Meeting in Focus<\/strong>\n
            \n
          • Investors await Monday\u2019s OPEC+ meeting<\/strong>, where output policy<\/strong> will be discussed.<\/li>\n\n\n\n
          • If tariffs persist<\/strong>, production losses in Canada & Mexico could support OPEC+ relaxing output curbs<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
          • Goldman Sachs Outlook<\/strong>\n
              \n
            • Analysts see limited near-term impact<\/strong> on global oil prices.<\/li>\n\n\n\n
            • Trade war risks may weigh on longer-term demand<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n

              Looking Ahead:<\/strong><\/h3>\n\n\n\n
                \n
              • Short-Term:<\/strong> Oil prices remain supported by supply concerns<\/strong>.<\/li>\n\n\n\n
              • Long-Term:<\/strong> Trade war fears & economic slowdown risks<\/strong> could cap gains<\/strong>.<\/li>\n\n\n\n
              • Key Event:<\/strong> OPEC+ decision on output levels<\/strong> could influence market direction<\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

                Oil prices climbed on Monday as U.S. President Donald Trump imposed tariffs on Canada, Mexico, and China, raising fears of potential supply disruptions. However, concerns over a broader trade war limiting global economic growth capped gains. Key Oil Price Moves: Brent crude futures rose 1.03% to $76.45 per barrel (0933 GMT), after hitting a high …<\/p>\n","protected":false},"author":9,"featured_media":103776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6936,6875,7534],"class_list":["post-111331","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil-prices","tag-russia","tag-sanctions"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=111331"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111331\/revisions"}],"predecessor-version":[{"id":111333,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111331\/revisions\/111333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/103776"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=111331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=111331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=111331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}