On February 10, world oil prices rose after a decline observed during the previous week. About this informs industry publication enkorr.
Traders focused on the actions of US President Donald Trump, who recently announced his intention to impose a 25% tariff on all steel and aluminum imports into the United States. In addition, he promised retaliatory measures against countries that impose tariffs on American goods.
Traders fear that Trump-initiated trade wars could significantly slow global economic growth, which in turn would affect oil demand.
April futures for Brent oil rose on the London ICE Futures exchange by $0.6 (0.8%), to $75.26 per barrel. The day before, on Friday, Brent rose by $0.37 (0.5%) to $74.66 per barrel.
At the same time, March WTI futures rose in electronic trading on the New York Mercantile Exchange NYMEX by $0.54 (0.76%), to $71.54 per barrel. According to the results of the previous session, the price of the contract rose by $0.39 (0.6%) to $71 per barrel. According to the results of last week, Brent fell by 1.3%, and WTI – by 2.1%.
