05:06 AM EST, 02/10/2025 (MT Newswires) -- Crude oil prices edged higher early Monday as investors weighed recent U.S. tariff threats that could further impact global economic growth and energy demand.

Brent crude gained 0.9% to US$75.33/barrel and West Texas Intermediate crude rose 0.9% to US$71.65/b at last look.

This comes after U.S. President Donald Trump revealed plans to impose 25% tariffs on all steel and aluminum imports into the U.S., Reuters said in a Monday report.

"The market has realized tariff headlines are likely to continue in the weeks and months ahead," Reuters quoted IG analyst Tony Sycamore as saying.

China's retaliatory tariffs on some U.S. exports are scheduled to take effect on Monday. U.S. oil and gas traders are seeking waivers from China for their products, the report said.

Meanwhile, sanctions on Iran and the lack of a nuclear deal are upside risks to oil prices despite Trump's policies aimed at reducing energy prices, Reuters quoted Citi analysts as saying.