Oil Prices Surge Amid Tariff Exemption News

Crude oil prices experienced a notable increase on Monday, with Brent futures climbing over 1%. This surge comes as the market continues to react to President Donald Trump's recent decision to exclude certain technological devices from the hefty 145% tariff imposed on Chinese goods. Beijing has described this move as a "small step" towards rectifying a "wrong practice."

Market Reaction to Tariff Adjustments

By 8:31 am ET, Brent crude for June 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, trading at $62.35 per barrel by 8:32 am ET. These adjustments highlight the market's sensitivity to trade policy changes and their potential impact on global oil prices.