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Rich Asplund

Crude Prices Push Higher as US Affirms Tariffs on Canada and Mexico

Oil United States Canada Donald Trump Mexico OPEC EIA

April WTI crude oil (CLJ25) today is up +1.30 (+1.89%), and April RBOB gasoline (RBJ25) is up +0.0326 (+1.49%).

Crude oil and gasoline prices today moved moderately higher after President Trump confirmed plans to impose tariffs on Canada and Mexico, the two top suppliers of crude to the US, starting March 4. Crude also has carryover support from Wednesday, when weekly EIA crude inventories unexpectedly declined. Today's rally in the dollar index (DXY00) to a 1-week high is a bearish factor for crude.

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