Oil Rises as Trump's Geopolitics and Trade War Concerns Cast Shadow
Oil prices edged higher, recovering from their lowest point of the year, as President Trump's geopolitical stances and threats of energy tariffs create uncertainty in the market.
Key Highlights:
* Brent crude hovered around $75 after a volatile week that erased gains for the year.
* China's retaliatory tariffs and Trump's Gaza proposal have sparked trade war worries.
* Investors have pulled out of crude and fuel markets since Trump's inauguration, leading to price declines.
* Concerns persist over potential supply restrictions from Iran, Russia, Canada, and Mexico.
* Saudi Arabia increased the price of its flagship oil grade to Asia, strengthening some Middle Eastern crude grades.
* Analysts view President Trump as a potential bearish influence on the oil market due to his focus on lower energy prices to combat inflation and other economic issues.
* The physical oil market shows signs of softening, with the premium for immediate Brent delivery narrowing.
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