Oil prices are rising amid the fear of the effects of Trump duties

Oil prices have risen after the White House announced that President Donald Trump’s plan to implement customs duties on the import of Canada, the most important US crude oil and other countries supplier on Saturday. Brent -ruol rose 0.5% in March to raise 77.49 dollars a barrel, and the Western Texas West medium rose 0.8% to vest at $ 74 a barrel. This height comes after White House press secretary Caroline Levat confirmed that the drawings that will begin on Canada, Mexico and China on the first of February. More than half of US rough imports come from the northern neighbor, most of whom are the oil -rich Alberta province. The White House statement aggravated the bullish feelings, after Trump said on Monday that he elected comprehensive customs definitions “much greater” than 2.5%, and he intends to lay fees on some goods made abroad in the “near future”, including steel, aluminum and copper. Also read: Trump’s fees open new doors in Asia for American Gas, Scott Shelton, a TP ICAP Group PLC, said: “The high prices are today the result of the imported Canadian RU price will be more expensive.” He added that the heavy Canadian RU deficiency would make it difficult to mix light rough rough, such as the intermediate “West Texas” RAW. Russia is still sending oil, the oil has landed earlier in the session due to reports that Russia sends shipping sanctions subjected to India on tankers listed by the US Treasury in the black list, representing a test of Moscow’s ability to bypass the restrictions. It has been scheduled that the country’s exports of oil products will reach its highest level in 11 months at approximately 2.3 million barrels per day, according to the data collected by “Bloomberg”. Also read: Goldman Sachs: These factors ensure that the continued flow of Russian oil, rough oil markets started with a turbulent start this year, as sanctions against Russia and cold weather led to high prices and raised the prices of vessels from the Middle East. Analysts have become more optimistic about expectations, as Bank of America Corp said it no longer sees a big surplus this year. Looking at the future, oil traders expect the OPEC+coalition to meet at the current show policy next week, and resist Trump’s pressure to improve production and lower rough prices. Nowadays, the group aims to restore a few limited production in the form of monthly slides, which starts in April.