Oil prices fell on Monday, March 31, despite US President Donald Trump’s statements about the possible introduction of additional duties on importers of Russian oil. This is reported by forex.ua with reference to Reuters.
Brent crude futures fell by 0.4% to $72.46 per barrel, while WTI fell by 0.5% to $69.03.
The US president said he could impose duties of 25% to 50% if he decides that Moscow’s actions are preventing him from ending the military conflict in Ukraine.
“The market is either doubting the reality of Trump’s threats or perceiving them as another step towards a trade confrontation that could harm the global economy,” said IG analyst Tony Sycamore.
However, OPEC+ is preparing to gradually increase production from April, while Saudi Arabia may reduce the price of oil for the Asian market to the lowest level in three months. In turn, Iran has already adjusted prices, setting them $3.95 above the Oman/Dubai average.
