Oil steady as investors digest new U.S. steel, aluminium tariffs
1. Oil prices remain steady amid concerns over new U.S. tariffs. 2. 25% tariffs on steel and aluminum may impact global energy demand.
FAQ
Why Bearish?
Tariffs could slow economic growth, affecting oil consumption. Historical data shows similar tariffs previously led to reduced demand projections.
How important is it?
Tariffs signify potential economic slowdown which could directly impact oil prices.
Why Short Term?
Immediate reaction to tariffs could lead to short-term dips in oil prices. Past tariff announcements have caused swift market reactions.