Global Markets React to Trump Administration's Latest Moves

In a significant development affecting global energy markets, crude oil prices experienced a 1% decline on Tuesday. This shift comes as the market evaluates the implications of the Trump administration's recent decisions, including the suspension of aid to Ukraine. This move has sparked discussions on the potential for improved US-Russia relations and the possibility of an uptick in Russian oil exports.

Furthermore, the implementation of US tariffs on Canada, Mexico, and China has added to the market's volatility. Beijing's swift announcement of countermeasures has raised concerns about a potential decline in energy demand, further complicating the global economic landscape.

Price Movements

As of 4:24 am ET, West Texas Intermediate (WTI) for April settlements saw a decrease of 1.05%, trading at $67.52 per barrel. Similarly, Brent crude for May deliveries dropped by 1%, with prices at $70.56 per barrel.