US President Donald Trump signs documents as he issues executive orders in the Oval Office of the White House on Inauguration Day in Washington, US, January 20, 2025.
Carlos Barea | Reuters
The price of US crude oil fell more than 2% on Tuesday, the president said Donald Trump It is considering imposing tariffs on major trading partners while pledging to boost domestic energy production.
American crude The price of oil fell $1.89, or 2.4%, to $75.99 per barrel by 8:29 a.m. EST, while the global benchmark oil price fell. Brent Futures fell $1.30, or 1.6%, to $78.89 per barrel.
Trump said after his inauguration on Monday that his administration was considering this Imposing customs duties of 25% On Canada and Mexico. The president also issued a set of executive actions aimed at boosting domestic fossil fuel production.
Trump announced a National energy emergencyHe sought to undo Biden-era restrictions on offshore drilling and lift the temporary halt on new liquefied natural gas exports.
