Oil Edges Higher as Traders Weigh Fallout From Trump’s Tariffs

Bloomberg · last updated March 3, 2025 – 12:02 AM

Oil was steady at the start of the week as traders weighed the outlook for Russia’s war in Ukraine ahead of President Donald Trump’s tariffs on US trading partners, which will likely lead to retaliatory measures.

Brent traded near $73 a barrel after posting the biggest monthly loss since September, while West Texas Intermediate was below $70. European leaders sought to assemble what Britain called a “coalition of the willing” to secure Ukraine after any US-brokered ceasefire and potential American pullback.

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