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Bloomberg Quint

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Image Credit: Bloomberg Quint

Oil Edges Higher As Trump Extends Tariff Deadline On EU Goods

  • Oil prices rose after President Donald Trump extended the tariff deadline for the European Union, bringing optimism for easing trade tensions.
  • Brent crude traded near $65 a barrel and West Texas Intermediate was below $62 following the tariff deadline extension.
  • The discussions between the US and Iran over limiting Iran's nuclear programs have been positive, potentially leading to an agreement in future meetings.
  • OPEC+ plans to boost idled production, which combined with trade tensions and tariff uncertainties, have been impacting oil prices in recent months.

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