Oil prices made marginal profits after a volatile session, as US President Donald Trump moved to postpone the customs tariffs on the import from Canada and Mexico. The Rubus “West Texas” has established unchanged above $ 66 a barrel to break a series of four consecutive losses. Brent rough rose slightly to $ 69, after touching his lowest level on Wednesday. Violent showboards provoked price fluctuations on Thursday. On the other hand, Trump’s threats of customs tariffs have urged some analysts to review low prices if commercial wars affect economic growth and energy demand. However, there are expectations in the market that the possibility of setting up fees can support the crude prices in the Western Texas, as it may be an increase in demand to replace Canadian and Mexican supplies. Trump said it would delay customs duties on Mexico and Canada for all the goods covered by the North America’s trade agreement (USMCA), which includes energy. Howard Lootnick, Minister of Trade, announced the decision earlier today, saying that Trump is thinking about this step. The White House estimates that 62% of Canadian imports will remain subject to customs duties, most of which are energy products subject to customs duties, and about half of the commodities coming from Mexico. More flexible conditions in the market The immediate difference of the ‘Western Texas’ -RU -The difference between its two decades -dropped to 36 cents after postponing customs tariffs, a sign of more flexible conditions in the market. Canadian heavy raw materials rose, after Trump’s decision. Futures has declined since mid -January, with world markets trembling due to Trump’s commercial policy, and America’s neighbors’ willingness to take countermeasures. The “OPEC+” coalition also surprised the markets to revive the disrupted production from April, which contributed to the landfill. Brent Ru Futures entered the peak area for the first time since September, based on one technical scale. The term indicates that the last decline was excessive. Over the past few days, “oil contracts have been for sale, with OPEC+ changing its priorities and strategies, but the market has not yet reached the stage of the surplus,” says Pierni Sheldroub, chief basic commodity analyst in SAP. Prices also raised support from Treasury Scott on Thursday, who said the United States were ready to tighten sanctions against Russia to bring about a ceasefire in Ukraine war. He also threatened the Iranian oil flow, adding that the United States would “close” the oil sector in Iran.
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