<ul data-eligibleForWebStory="false"><li>Oil prices steadied amid escalating trade war tensions as President Trump threatened 30% tariffs on goods from EU and Mexico, affecting risk appetite and energy demand outlook.</li><li>Global benchmark Brent hovered above $70/barrel after rising 3% the previous week, while US equity-index futures fell following the tariff threats.</li><li>Investors awaited a potential major statement from Trump on Russia's actions in Ukraine, adding to market uncertainty.</li><li>Despite geopolitical tensions easing, concerns over crude glut persist as OPEC+ relaxes supply curbs, with near-term supportive metrics like backwardation in Brent and dwindling US distillate stockpiles.</li></ul>

Oil steady as investors assess US trade threats and Russia moves

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