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Oil prices maintain strong gains amid Donald Trump’s trade tariffs
Oil prices stabilized after Monday’s surge, which was triggered by US President Donald Trump’s threat to restrict Russian energy supplies, Bloomberg reports.
Analysts surveyed by Bloomberg warn that oil markets are increasingly pricing in potential disruptions to Russian crude supplies. The proposed secondary tariffs on buyers of Russian oil may significantly hurt flows.
Oil prices showed little net change in the first quarter 2025 despite extreme volatility, as traders balanced competing forces: geopolitical risks, projections of growing supply gluts, and OPEC+'s planned April production increases.
While tighter restrictions on Russia and Iran may constrain oil supplies, Bloomberg strategists warn that the US President's new tariffs may simultaneously weaken global economic growth and with it, oil demand.
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