Crude Oil Prices Surge Amid Tariff Exemptions

Investors are closely analyzing the implications of United States President Donald Trump's latest move to exclude various technological devices from the steep 145% tariff on Chinese goods. This decision has sparked a notable increase in crude oil prices, with Brent futures leading the charge.

Market Reaction to Policy Adjustments

By 8:31 am ET, Brent for June's deliveries had climbed by 1.19%, reaching $65.69 per barrel. Not far behind, West Texas Intermediate (WTI) for May's settlements saw a 0.89% increase, trading at $62.35 per barrel by 8:32 am ET.

Beijing's Response

China has described the tariff exemptions as a "small step" towards rectifying what it views as a "wrong practice." This nuanced development adds another layer to the ongoing trade tensions between the two economic powerhouses.