US President Donald Trump has announced plans to impose 10% tariffs on China and the European Union, amid ongoing tensions with Russia. The move has led to a shift in oil prices, with West Texas Intermediate crude remaining relatively stable near $76 a barrel. Traders are assessing the potential impact of these tariffs on global trade and consumption.
Source: https://www.bloomberg.com/news/articles/2025-01-21/latest-oil-market-news-and-analysis-for-jan-22