COMMODITY
Crude oil futures end higher amid global tensions
Apr-01-2025

Crude oil prices climbed on Monday as the dollar weakened on growth worries and U.S. President Donald Trump threatened Russia with further oil sanctions. The U.S. dollar was on track for a quarterly loss amid worries about the inflation and economic outlook. Traders took a cautious stance amid Trump's warning of possible tariffs on Russian buyers and bombings on Iran. Trump has stated that he would impose secondary tariffs of 25-50 percent on all Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine. He also threatened Iran with 'bombing' if it fails to agree to a nuclear deal.

Benchmark crude oil futures for May rose $2.12 or about 3.06% at $71.48 a barrel on the New York Mercantile Exchange. Brent crude for May delivery added $1.14 or 1.55% to settle at $74.77 (provisional) a barrel on London's Intercontinental Exchange.

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