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Oil Prices Surge as Trade Tensions Rise: Trump’s Tariff Threat Fuels Market Rally

Oil Prices Surge Amid Trade Tensions

Oil prices experienced an uptick on Friday, driven by U.S. President Donald Trump’s warning regarding potential tariffs on Mexico and Canada, two of the largest crude oil exporters to the United States. These duties could be enacted as early as next week, creating uncertainty in the markets.

Brent crude futures for March, set to expire on Friday, rose by 38 cents to reach $77.25 per barrel. Meanwhile, April futures increased by 34 cents, settling at $76.23 per barrel. Additionally, U.S. West Texas Intermediate (WTI) crude climbed 49 cents, bringing the price to $73.22 per barrel.

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