WTI crude futures were fluctuating around $74.8 a barrel on Monday as markets reacted to the Trump administration's trade policy shift. The U.S. initially threatened tariffs on Colombia over a migrant dispute but stopped short of doing so after Bogotá agreed to President Trump's terms. The move follows a series of global trade actions targeting China, Canada, Mexico and the EU, alongside calls for OPEC to lower oil prices. Trump has argued that lower oil prices could hurt Russia's revenues and curb its actions in Ukraine. Meanwhile, signs of slowing economic activity in China, the world's largest oil importer, have raised concerns about demand. Factory activity contracted in January after three months of growth, highlighting ongoing risks to global oil consumption. (AL)
Source: Trading Economics
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