Oil prices were steady at start of week as traders weighed the impact of higher U.S. tariffs and an upcoming increase in OPEC+ supply.
Brent traded above $72 a barrel after rising 2.2% last week, while West Texas Intermediate neared $68. Donald Trump's wave of retaliatory levies on April 2 is set to be more targeted, aides say, than the barrage the U.S. president has sometimes threatened.
Global markets have been gripped by uncertainty and volatility as Trump has unleashed trade wars on multiple fronts, with U.S. levies met with retaliation from other countries including China. The new tariffs would coincide with more supply from the Organization of the Petroleum Exporting Countries and its allies, which plan to start reviving idled production next month. (Newsmaker23)
Source: Bloomberg
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