
WASHINGTON (dpa-AFX) - Oil prices came off five-month highs on Tuesday as investors shifted their focus on the possible impact of Donald Trump's proposed tariffs on imports.
Oil prices had climbed higher in recent sessions, riding on U.S. sanctions on Russian oil producers, as well as their subsidiaries, sanctions on 183 vessels and scores of oil traders, service providers and insurance companies.
West Texas Intermediate Crude oil futures for February closed lower by $1.32 or about 1.67% at $77.50 a barrel.
Brent crude futures settled at $79.92 a barrel, down $1.09 or about 1.35% from previous close.
Traders now await weekly oil reports from the American Petroleum Institute (API) and the U.S. Energy Information Administration (EIA). The API data will be out later today, while the EIA will release its data Wednesday morning.
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