Oil prices rose on Monday as investors assessed the latest threat from former U.S. President Donald Trump to impose new tariffs on all steel and aluminum imports, a move that could impact economic growth and fuel demand.
According to Bloomberg, Brent crude futures climbed $0.40 to $75.06 per barrel, while U.S. West Texas Intermediate (WTI) crude rose $0.38 to $71.38 per barrel.اضافة اعلان
Trump announced that he would introduce a 25% tariff on all steel and aluminum imports to the United States.
Meanwhile, gold prices also surged on Monday, nearing a record high set in the previous session. Investors turned to the precious metal as a safe-haven asset following Trump's tariff decision, which has fueled concerns over a global trade war.
Spot gold increased by 0.3% to $2,868.66 per ounce, while U.S. gold futures rose 0.2% to $2,894.00.
Among other precious metals:
- Silver remained steady at $31.82 per ounce
- Platinum declined 0.3% to $973.60
- Palladium rose 0.4% to $968.29
