💨 Abstract

Oil prices dropped on Tuesday due to U.S. President Trump's delayed tariff plans and increased U.S. oil production. The stronger U.S. dollar also made oil more expensive for holders of other currencies. Trump's potential tariffs on Canada and Mexico, along with his promise to refill strategic reserves, have negatively impacted oil prices. The potential end to the shipping disruption in the Red Sea may also contribute to price weakness.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖