financetom
World
financetom
/
World
/
WTI oil prices down as Trump agrees to pause tariffs on Mexico, Canada
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
WTI oil prices down as Trump agrees to pause tariffs on Mexico, Canada
Feb 3, 2025 3:35 PM

TOKYO (Reuters) -U.S. West Texas Intermediate (WTI) crude prices were down by 1.1%, or 0.80 cents, to $72.36 at 2323 GMT after U.S. President Donald Trump agreed to pause imposing steep tariffs on Mexico and Canada for one month.

Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to bolster border enforcement efforts in response to Trump's demand to crack down on immigration and drug smuggling. That would pause 25% tariffs due to take effect on Tuesday for 30 days.

Canada and Mexico are the biggest oil suppliers to the United States, the world's top crude oil producer itself. U.S. tariffs on China are still due to take effect within hours.

(Reporting by Katya Golubkova; Editing by Lincoln Feast.)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
WTI oil prices down as Trump agrees to pause tariffs on Mexico, Canada
WTI oil prices down as Trump agrees to pause tariffs on Mexico, Canada
Feb 3, 2025
TOKYO (Reuters) -U.S. West Texas Intermediate (WTI) crude prices were down by 1.1%, or 0.80 cents, to $72.36 at 2323 GMT after U.S. President Donald Trump agreed to pause imposing steep tariffs on Mexico and Canada for one month. Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to bolster border enforcement efforts in...
MORNING BID ASIA-Rebound eyed as tariff respite softens initial blow
MORNING BID ASIA-Rebound eyed as tariff respite softens initial blow
Feb 3, 2025
Feb 4 (Reuters) - A look at the day ahead in Asian markets. First the stick, then the carrot. Investors breathed a sigh of relief on Monday after some of U.S. President Donald Trump's sweeping tariffs announced over the weekend were put on ice, allowing stocks and non-dollar currencies to claw back losses and regain some poise. This should help...
Morning Bid: Rebound eyed as tariff respite softens initial blow
Morning Bid: Rebound eyed as tariff respite softens initial blow
Feb 3, 2025
(Reuters) - A look at the day ahead in Asian markets. First the stick, then the carrot. Investors breathed a sigh of relief on Monday after some of U.S. President Donald Trump's sweeping tariffs announced over the weekend were put on ice, allowing stocks and non-dollar currencies to claw back losses and regain some poise. This should help bring some...
Equities Trim Losses After Trump Pauses Mexico Tariffs
Equities Trim Losses After Trump Pauses Mexico Tariffs
Feb 3, 2025
04:59 PM EST, 02/03/2025 (MT Newswires) -- US benchmark equity indexes closed lower Monday, but recovered from steeper declines earlier in the session as President Donald Trump paused new tariffs on Mexico. The Nasdaq Composite closed 1.2% lower at 19,392, while the S&P 500 fell 0.8% to 5,994.6. The Dow Jones Industrial Average dropped 0.3% to 44,421.9. Technology saw the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved