On January 31, oil prices began to rise amid the threat of tariffs by US President Donald Trump on Mexico and Canada. About this informs Reuters.
Brent crude futures for later in the day were up 61 cents at $77.48 a barrel. The more active April contract rose 48 cents to $76.37. The price of American oil WTI (West Texas Intermediate) increased by 65 cents, reaching 73.38 dollars per barrel.
Investors are closely watching the possible introduction of US tariffs, considering them in the context of other policy statements and orders of the new administration. In addition, the attention of market participants is focused on the upcoming meeting of OPEC+, scheduled for February 3.
It will be recalled that Donald Trump has already threatened to introduce a 25% tariff on exports from Canada and Mexico on February 1, if these countries do not stop the supply of fentanyl across the US border. It is not yet clear whether these restrictions will apply to crude oil.
