Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Crude oil prices hold losses as Trump’s tariff threat raises trade war fears
    Commodities

    Crude oil prices hold losses as Trump’s tariff threat raises trade war fears

    January 21, 20252 Mins Read


    Oil held losses as President Donald Trump threatened a tariff on China, raising concerns over trade wars on several fronts after he said hefty levies on Canada and Mexico were being considered.

    West Texas Intermediate traded below $76 a barrel following a run of declines since Thursday, while Brent closed near $79. Trump said he was considering a 10% tariff on China in retaliation for the flow of fentanyl from the country. Prior to the threat, the Asian nation said it will expand US imports.

    Trump’s first day in office began with sweeping executive orders, including an overhaul of US energy policy and the threat of tariffs on Canada and Mexico of as much as 25%. Both countries are major exporters of goods to the US, including crude which is processed in American refineries.

    That’s prompted a flood of Canadian crude heading to the US to beat threatened tariffs, which Trump said could start from February 1. Levies would result in higher gasoline and energy costs for American consumers, Goldman Sachs Group Inc. and Canada’s oil industry warned last year.

    The threat of tariffs has driven the dollar higher, making commodities such as oil priced in the currency more expensive for most buyers.

    Crude still remains higher so far this year, helped by broad US sanctions on Russia which have upended physical oil and tanker markets. Trump said he’s likely to impose more sanctions on Moscow if President Vladimir Putin doesn’t come to the table to negotiate on Ukraine.

    • WTI for March delivery was little changed at $75.78 a barrel at 8:09 AM in Singapore.
    • Brent for March settlement closed 1.1% lower at $79.29 a barrel on Tuesday.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    All Metal Gear Solid Delta bosses in order and rewards

    Commodities

    AMIGO LNG Signs 15-Year LNG Sale and Purchase Agreement with Macquarie Group

    Commodities

    Florida ag law to ramp up immigration arrests on interstates

    Commodities

    Ukraine ‘suicide drones’ attack Putin’s key energy plant in crippling blow

    Commodities

    Crescent Energy to Buy Vital Energy in $3-Billion Deal

    Commodities

    Cost of living has come down

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Cheapest Cryptocurrency with 16x potential? Analysts hint at a token still under $0.04 better than PEPE and SHIB

    Cryptocurrency

    U.S Senate passes milestone Cryptocurrency Bill – Switch News

    Precious Metal

    How To Buy Gold – Forbes Advisor

    Editors Picks

    Upcoming Dividend Stocks: HAL, IRCON, NBCC, IRCTC, Oil India Among 50 Stocks To Trade Ex-Date Next Week – Check LIST

    February 15, 2025

    Réseau de Andre Cronje, Analyse des 0 relations

    April 16, 2025

    Silvercape Investments Ltd annonce une participation de 11,1 % dans Petmed Express

    May 20, 2025

    What is American Bitcoin, Trump’s New Cryptocurrency?

    May 15, 2025
    What's Hot

    Improving Quality of Commodities Crucial to Boost Export Trade: Trade & Regional Integration Ministry – ENA English

    October 15, 2024

    Climate could force massive losses in property value amid migrations

    February 2, 2025

    Deutsche Bank and Upvest Announce New Partnership

    August 20, 2024
    Our Picks

    App innovation speeds up property sales progression

    August 11, 2025

    Siemens Energy fournira à Rolls-Royce des équipements pour les petits réacteurs nucléaires

    February 28, 2025

    Iraq becomes the first Arab country to adopt digital currency as a replacement for cash

    March 1, 2025
    Weekly Top

    Ukraine ‘suicide drones’ attack Putin’s key energy plant in crippling blow

    August 25, 2025

    Is Cryptocurrency Hiding in Your Retirement Fund?

    August 25, 2025

    BCCI in talks with Toyota, fintech company over title sponsorship ahead of Asia Cup: Report

    August 25, 2025
    Editor's Pick

    Guinée : la Banque Populaire Maroco-Guinéenne étoffe son offre de services avec le lancement des cartes Visa « Gold » et « Balafon »

    April 30, 2025

    Leaders to meet at Hawai‘i Agriculture Conference

    October 23, 2024

    XAG/USD maintains position above $30.50 near nine-day EMA

    January 21, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.