Trump's fees for his raw neighbors' supplies increase oil prices

Oil prices rose after President Donald Trump imposed large customs tariffs on a set of imports, including RU of Canada, which threatened high costs for consumers. The ‘West Texas’ mediator, the US standard, rose 3.7% to $ 75.18 a barrel, while Brent Raw profits were less than about $ 76 a barrel. Trump has his threat to impose public fees with 25% on Canada and Mexico, and begins 10% on Chinese goods from Tuesday, making the promises respond to reduce the negotiation window at the last minute. Imports of the United States of Canadian Energy will undergo a reduced tax of 10%, which includes approximately 4 million barrels per day of RU. The United States gets almost all its oil imports from its northern neighbor, as well as about 500,000 barrels per day from Mexico. The increasing cost of raw materials is likely to be translated into high prices at the final consumer in the United States, with 5% more active petrol futures in New York. Modest profits The prices of crude oil have fallen since Trump’s inauguration, with the threat of new administration policies to disable worldwide trade and growth, but made modest profits last month due to the cold winter in the northern hemisphere, and recent US sanctions on Russian supplies. Trump also showed broader definitions in the coming months, including the European Union. “The customs duties on the largest crude oil source for the United States are working to improve the price of crude oil, especially the prices of refined products,” said Warren Patterson, head of the basic commodity strategy at the Inc. He added: “Although it can support the near -term prices, we may not have to wait a long time until we take a step to avoid risks because the fees are raising concerns about global growth.” The potential turmoil in US oil supplies was witness to the contraction of the ‘West Texas’ -RU, compared to ‘Brent’ global ru, to about $ 3 a barrel of its lowest level at about $ 4 last month. The trading volumes were much higher than average levels in the Asian session, with approximately 200,000 contracts of the West Texas mediator by the curve on the first hour, or almost five total Friday.