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The Commodities Feed: Tariffs delayed
The oil market gave back a lot of its gains yesterday after Mexico and Canada came to a deal with the US, which saw a delay in the implementation of tariffs. Both Mexico and Canada agreed to put more resources on their border to combat the flow of fentanyl to the US. The delay has seen crude oil prices coming under further pressure in early morning trading today with NYMEX WTI down more than 1%, while NYMEX RBOB and ULSD are under relatively more pressure. Unsurprisingly fears over tariffs on Canadian oil saw the differential for West Canada Select (WCS) widening relative to WTI. The differential widened by ... (full story)