Oil eases despite Trump warning of tariffs on buyers of Russian energy

Reuters reports that oil prices ease on Monday despite warnings from US President Donald Trump about possible tariffs on countries that buy Russian crude.

Yuki Takashima, economist at Nomura Securities, says such comments by the US leader were supposed to boost oil prices. However, Takashima believes that doubts about the feasibility of Trump's statements and the upcoming OPEC+ production increase in April make investors cautious. 

Nomura Securities expects WTI crude prices to stay in the range of $65–75 for now, since market participants are assessing the situation with OPEC+ output hike, as well as the impact of US President's tariffs on global economy and oil supply.

The Organization of Petroleum Exporting Countries plans to proceed with the increase in crude output in April. Moreover, the group is likely to continue to raise its production in May, Reuters says.