Oil prices remain stable following the assessment of Donald Trump's trade policies

Oil prices remain stable at the beginning of the week as traders assess the impact of higher US tariffs and the upcoming increase in OPEC+ oil production. This is reported by Bloomberg.

According to the agency, Brent oil traded above $72 per barrel after a 2.2% increase last week, and WTI was near $68. As stated by US President Donald Trump, retaliatory tariffs on the country's major trading partners will come into effect on April 2. 

The introduction of new US tariffs next month will coincide with an increase in oil supply by OPEC+. The group plans to raise production by 138,000 barrels per day.

Global markets are expressing doubts about the future trajectory of oil prices as Donald Trump's trade policies prompt retaliatory measures from other countries, including Canada and China. Oil prices have fallen by more than 10% since their January 2025 peaks, Bloomberg notes.