United States

Traders raised oil's risk premium, anticipating supply disruptions from Trump's actions and policies

Both contracts gained over 2 percent so far this week and more than 7 percent since hitting multi-month lows in early March

The new tariffs will apply to vehicles assembled in countries with free-trade agreements with the U.S., such as Canada, Mexico, and South Korea

Tariffs that increase vehicle prices may suppress auto sales and, consequently, the demand for oil products

Gold prices are expected to reach $3,300 per ounce on stronger-than-expected ETF inflows and sustained central bank demand

Sheikh Mohamed and Trump noted the positive impact this development will have on the future of bilateral relations

American Petroleum Institute data showed that U.S. crude inventories fell by 4.6 million barrels last week
