Oil prices traded flat on Thursday in Asian markets, holding on to gains from earlier in the week as traders continued to weigh intensifying geopolitical risks and new tariff deals that could reshape global crude flows.
Trump on Wednesday widened his threats to include a 10% tariff on China and the EU, two of the world’s largest energy markets. The new threats follow Trump’s plans to impose tariffs as high as 25% on goods from Canada and Mexico, which are major crude suppliers to the US.