Oil prices vary amid market interaction with Trump's commercial threats

Oil prices ranged amid investors who are on the trade with the movements of the fast US administration led by Donald Trump, as the United States threatened to impose a set of sanctions and customs duties on Colombia before it withdrew. Brent ruol dropped below $ 78 a barrel, but it reduced its large losses during daily trading, with Western Texas’ mediator raw clouds approaching $ 74. This came after a dispute over the issue of migrants, as Trump ordered the imposition of customs tariffs on Bogota before the US president implemented. At the same time, the US dollar rose and the prices of most basic commodities pushed. The fourth largest oil exporter for America the crude prices are still high, after a previous round of US sanctions against Russian oil and energy supplies, which raised prices, and pushed a few refineries in Asia to search for alternative supplies. However, Brent ruol dropped sharply last week, as the US president requested the “OPEC+” coalition to increase production and reduce prices and raise pressure on Russia to end the war in Ukraine. According to the Energy Information Division, Colombia, which imposed a retaliation cost on US goods, has the fourth largest oil exporter for the United States, which is better than Saudi Arabia and Brazil. The latest data has shown that Colombia sends more than 215 thousand barrels a day to the US ports. “Trump’s actions are important for the markets because it shows its clear credibility to use aggressive customs tariffs,” said Chris Weston, head of the Peppperstone Research Department. He added: “It works to improve the backbone of preconceived measures applied to certain countries, including Canada and Mexico. The OPEC+coalition is also scheduled to hold a ministerial meeting next month.