💨 Abstract

Oil prices surged on Monday due to trade tensions between the U.S. and major crude suppliers, Canada and Mexico. Trump imposed tariffs on these countries, raising concerns about potential supply disruptions. However, the increase was capped due to concerns about lower fuel demand. Canadian energy imports will face a 10% tariff, while Mexico's will incur the full 25%. The tariffs will increase costs for U.S.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖