Oil Prices React to Trump's Tariff Decision

Crude oil prices experienced a notable increase on Monday, with Brent futures climbing more than 1%. This surge comes as the market continues to digest United States President Donald Trump's unexpected move to exclude various technological devices from the imposing 145% tariff on Chinese goods.

Market Response and Beijing's Reaction

By 8:31 am ET, Brent for June's deliveries had risen by 1.19%, reaching $65.69 per barrel. Similarly, West Texas Intermediate (WTI) for May's settlements saw a 0.89% increase at 8:32 am ET, trading at $62.35 per barrel. Meanwhile, Beijing described the tariff exemptions as a "small step" towards rectifying what it views as a "wrong practice."