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Energy Preview: WTI crude oil climbs to 3-week high
25-Mar-2025 09:12

WTI crude oil climbed to a three-week high on Tuesday morning after US President Donald Trump said he will impose tariffs on countries that buy oil and gas from Venezuela. Trump said on Monday that he would be placing a 25% tariff on all imports from any country that buys oil or gas from Venezuela, effective April 2, as well as imposing new tariffs on the South American country itself. Meanwhile, rising geopolitical tensions in the Middle East, which could lead to disruption of crude supplies from the region also kept the commodity supported. Currently, the counter is quoting at $69.12 per barrel, up marginally on the day.

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