💨 Abstract

Oil prices increased at the market open on Monday due to fears of a trade war following U.S. President Trump's imposition of tariffs on Canada, Mexico, and China. The tariffs on the two biggest sources of U.S. crude imports may raise costs for heavier crude grades, potentially leading to production cuts. This could give European and Asian refineries a competitive advantage against their U.S. counterparts.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖