Oil Prices Set for Solid Weekly Loss on Tariffs and Ample Supply ...Middle East

OILPRICE - Economy
Oil Prices Set for Solid Weekly Loss on Tariffs and Ample Supply
source : OILPRICE ( Middle East ) () 55
U.S. tariffs on Canada and Mexico, as well as signals about comfortable supply levels have combined to pressure oil into ending the week with a substantial loss, which, according to Reuters, was the biggest one since last October. At the time of writing Brent crude was trading at $69.48 per barrel and West Texas Intermediate was changing hands for $66.33 per barrel even as President Trump temporarily suspended the 25% tariff rate he imposed on Canada and Mexico earlier in the week. The suspension is in effect until April 4. Canadian oil exports…

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