Oil prices jump on supply disruption fears from US tariffs
SINGAPORE - Oil prices jumped on Monday after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, raising fears of crude supply disruption from two of the biggest suppliers to the U.S., but the prospect of lower fuel demand capped gains.
Energy products from Canada will have only a 10% duty, but Mexican energy imports will be charged the full 25%, White House officials said. Canada and Mexico are the top sources of U.S. crude imports, together accounting for about a quarter of the oil U.S. refiners process into fuels such as gasoline and heating oil, according to the U.S. Department of Energy.The tariffs will raise costs for the heavier crude grades U.S. refineries need for optimum production, industry sources said, cutting their profitability and potentially forcing production cuts.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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