Oil ticks higher as investors weigh new US tariffs
Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump's latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand. Brent crude futures climbed 40 cents, or 0.5%, to $75.06 a barrel by 0133 GMT while U.S. West Texas Intermediate crude was at $71.38 a barrel, up 38 cents, or 0.5%. Trump said he will announce on Monday 25% tariffs on all steel and aluminium imports into the U.S. in another major escalation of his trade policy overhaul.
