Oil prices rebound from multi-week lows

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Oil prices settled up on Tuesday, bouncing back from multi-week lows, after the White House said US President Donald Trump's plans to issue tariffs on Canadian and Mexican imports this week still holds.

Several independent refineries in China have halted operations, or plan to do so, for indefinite maintenance periods, sources told Reuters, as new Chinese tariff and tax policies plunge plants deeper into losses.

FGE analysts see refineries in Shandong losing up to 1 million barrels per day of crude supply in the near term amid a ban imposed by the Shandong Port Group on US-sanctioned tankers.

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Category: EconomyBusiness

Markets: MalaysiaCanadaChinaMexico

Topics: /Business/ TariffImpact OilPrices BrentCrude ChinaDemand EnergyMarket Commodities SupplyDisruptions WTICrude

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-29 @ 06:31:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 528 words

Reading Time: 3 minutes read

Sentences: 23 lines

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Copyright Owner: © The Star

News ID: 25591486

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