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Oil prices dip as Trump delays tariffs on Mexico, Canada
short by / on Tuesday, 4 February, 2025
Oil prices saw a decline on Tuesday after US President Donald Trump decided to delay imposing tariffs on Mexico and Canada, the US' top oil suppliers, for a month. Brent crude fell by 41 cents to $75.55, while WTI dropped 75 cents to $72.41. Meanwhile, leaders like Trudeau and Sheinbaum are set to tighten borders in response to Trump's demand.