Trump Tariffs Could Hurt Oil Companies and Raise Gas Prices
Some oil refineries will probably struggle to replace imported crude oil if President Trump imposes 25 percent tariffs on products from Canada and Mexico.
Oil prices on track for weekly declines as traders await Trump tariff decision
Oil futures ticked lower Friday and were on track for weekly losses as traders awaited a decision by President Donald Trump on tariffs on imports from Canada and Mexico.
Trump Says Looming Oil Tariffs Are Negotiable: ‘Depends On What Their Price Is’
All else equal, this would increase gasoline prices, which in most of the country have averaged $3 per gallon for the past year amid historically low levels of petroleum inventories (see chart). But Trump wants lower gasoline prices, which is why if the oil tariffs come at all, they will likely start slowly.
These prices could climb within days if Trump slaps tariffs on Canada and Mexico
The Trump administrations says the tariffs will take effect on Feb. 1. Tariffs on goods from Mexico and Canada that are set to take effect could hike the price of a gallon of gasoline for some drivers by as much as 70 cents and send grocery bills climbing, experts told ABC News.
US tariff threat limits oil prices
Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected, though attention remained on tariffs threatened by U.S. President Donald Trump on Mexico and Canada,
President Trump says tariffs on Canada and Mexico coming Saturday, and he's deciding whether to tax their oil
President Donald Trump says his 25% tariffs on Canada and Mexico are coming on Saturday. WASHINGTON— President Donald Trump said his 25% tariffs on Canada and Mexico are coming on Saturday, but he’s still considering whether to include oil from those countries as part of his import taxes.
Trump Says Canada, Mexico Tariffs on Saturday May Not Include Oil
Trump also said he was still considering new tariffs on Chinese goods, citing its part in the fentanyl trade. He has threatened a 10% duty on all Chinese goods, after imposing pun
Trump’s imminent 25% tariffs on Canada and Mexico could apply to their oil, too
President Trump may include oil in his tariffs on Canada and Mexico, but the move could undermine his pledge to lower gasoline prices.
Oil set for weekly decline as Trump tariff threat looms large
Oil prices edged down on Friday and were on course for a weekly decline as markets wait to see if U.S. President Donald Trump follows through on his threat to impose tariffs on Mexico and Canada this weekend.
Wall Street Banks Raise Oil-Price Forecast Amid U.S. Policy Uncertainty
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Oil prices to see little upside as weak demand, supply glut concerns persist
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Oil prices end lower as U.S. crude supplies post first weekly rise in 10 weeks
U.S. oil futures on Wednesday marked their lowest settlement price of the year so far after official data revealed a weekly ...
Oil Futures Edge Higher; Prices Consolidating Amid Uncertainty
Oil futures edged higher in early Asian trade. Brent crude oil was consolidating around the $77/bbl level amid continued uncertainty over whether OPEC will align its policies with Trump’s desire for ...
Oil prices rise amid US tariff threat but still poised for weekly loss
Oil prices rose on Friday as markets weighed the threat of tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest crude exporters to the U.S., that could take effect this weekend ...
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Why Oil Prices Could Spike in February
Oil prices were under pressure this week, but the looming threat of U.S. tariffs on Canada and Mexico could send them spiking next week.
Analysis-Renewed inflation worries help drive oil price rally
Investors are snapping up crude oil futures as a hedge against the risk that U.S. President Donald Trump's threatened trade ...