COMMODITY
Crude oil futures settle higher amid U.S. tariff threats
Jan-21-2026

Crude oil futures ended higher on Tuesday as traders assessed the renewed tariff threats by U.S. President Donald Trump against European nations over his increasing interest in acquiring Greenland and the consequent slide in the dollar index. Trump doubled down on his ambition to seize Greenland, defending his intention by stating that the acquisition will prevent future Russian threat in the region.

Benchmark crude oil futures for February delivery rose $1.04 or 1.75% to settle at $60.34 a barrel on the New York Mercantile Exchange. Brent crude for March delivery increased $0.79 or 1.23% to settle at $64.92 a barrel on London's Intercontinental Exchange.


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