Oil prices continued to slide after Commerce Secretary Howard Lutnick said the Trump administration could lift some tariffs on Mexico and Canada, adding to uncertainty in global markets.
West Texas Intermediate crude was trading near $68 a barrel after falling 3% over the past three sessions, while Brent was hovering around $71. Lutnick did not explicitly say what action President Donald Trump was considering but dismissed the idea that the levies would be lifted entirely. He made the remarks on Fox.
Crude prices have been falling since mid-January as Trump's trade policies raise the prospect of a multi-pronged trade war, which could hurt energy demand. Oil options traders are the most pessimistic in five months on concerns about the impact of U.S. tariffs and OPEC+'s plan to revive stalled production. (Newsmaker23)
Source: Bloomberg
Oil steadied after a string of losses, with investors looking to US trade talk progress and low inventory levels. Brent crude traded below $69 a barrel after four sessions of declines, with West...
Oil prices were little changed on Wednesday (July 23rd) as investors assessed trade developments between the European Union and the US after President Donald Trump reached a tariff deal, opening a new...
Oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a U.S. tariff deal with Japan ahead of a U.S. stocks data announcement. Brent crude...
Oil prices rose in Asian trading on Wednesday, lifted by optimism over a new U.S.-Japan trade deal and further supported by data showing a decline in U.S. crude stockpiles. As of 22:07 ET (02:07 GMT)...
Brent rose toward $69 a barrel after a three-day decline, while West Texas Intermediate was near $66 a barrel. President Donald Trump unveiled an agreement with the Philippines setting a 19%...
The Japanese yen strengthened past 146 per dollar on Thursday, reaching a two-week high as optimism surrounding the new US-Japan trade deal lifted demand. The agreement sets a 15% tariff on Japanese exports to the US, notably lower than the 25%...
The US dollar index slipped toward 97 on Thursday, nearing a three-week low, as progress in trade talks with major partners lifted rival currencies. Reports indicated that the US and EU are moving closer to a deal, with discussions centered around...
The Australian dollar strengthened to around $0.661 on Thursday, extending its five-session rally to hit its highest level since November last year, fueled by optimism over latest global trade developments. The US and EU are reportedly close to a...
A 19% U.S. tariff on Indonesian exports could take effect earlier than the previously expected August 1 deadline, Indonesia's chief economic...
European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone...
The US has signaled it will not relax its August 1 deadline for higher tariffs against the European Union as the bloc struggles to reach a deal on...
European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor...