New York: Oil prices retreated on Tuesday after U.S. President Donald Trump delayed a decision on imposing steep tariffs on Mexico and Canada, the U.S.’s largest foreign oil suppliers, for another month.
The pause in tariff talks eased concerns over potential disruptions to oil imports, but market sentiment remained cautious amid growing fears of higher OPEC+ supplies from April. The combined factors contributed to downward pressure on oil prices, with traders also keeping an eye on broader global supply dynamics.
