Oil, gasoline futures rise after Trump slaps tariffs on Canadian crude
Oil futures finished Monday with a gain after President...
Oil futures finished Monday with a gain after President Trump slapped tariffs on Canada, Mexico and China over the weekend, sparking worries over U.S. crude imports. Upside was limited, however, by concerns that a trade war would dent demand.
At a regularly scheduled meeting on Monday, ministers from members of OPEC+ — made up of the Organization of the Petroleum Exporting Countries and its allies — left its existing oil production plans unchanged, even as Trump last month called on the group to lower oil prices.
West Texas Intermediate crude for March delivery rose 63 cents, or 0.9%, to settle at $73.16 a barrel on the New York Mercantile Exchange after trading as high as $75.18.
April Brent crude , the global benchmark, tacked on 29 cents, or 0.4%, to $75.96 a barrel on ICE Futures Europe.
Back on Nymex, March gasolineclimbed2.9% to $2.12 a gallon, while March heating oilgained2.7% to $2.46 a gallon.
March natural gassurged 10.1% to $3.35 per million British thermal units, after posting a gain of nearly 12% last week.
U.S. stocks end lower, but off session lows, as Trump delays Mexico tariffs
U.S. stocks ended lower, but recovered from their session...
U.S. stocks ended lower, but recovered from their session lows, after President Trump said on Monday that he would pause imposing new tariffs on Mexico for a month, though tariffs on China and Canada will stil take effect on Tuesday.
The Dow Jones Industrial Average went down 122.75 points or 0.28% to close at 44421.91, according to FactSet data.
The S&P 500 declined 45.96 points or 0.8% to finish at 5,994.57.
The Nasdaq Composite fell 235.49 points or 1.20% to end at 19,391.96.
Trump's LNG strategy sparks interest but raises risks
President Donald Trump's...
President Donald Trump's plan to use US liquefied natural gas exports as a geopolitical tool is drawing interest from countries like India, Japan, and Kuwait, but also risks deterring major buyers like China. While US LNG exports are set to nearly double by 2030, experts warn that leveraging energy trade for political gains could erode long-term market confidence in American supply reliability.
Wall Street could be in for a wild ride to start the week after President Trump announced sweeping tariffs on Mexico, Canada, and China, sparking a new trade war. While many sectors are likely to be hit, keep an eye on auto stocks, which are highly exposed to trade restrictions in North America. GM shares fell 10% last Tuesday, one of its worst days in years, because the company’s optimistic outlook for 2025 did not account for the impact of tariffs.
Flying Soon? Understaffed air traffic control facilities
Of the 313 air traffic control facilities in the United States, 285 are...
Of the 313 air traffic control facilities in the United States, 285 are staffed below levels recommended by the FAA and the union that represents air traffic controllers, according to the New York Times. At 73 of the facilities, which include traffic control towers, the workforce is understaffed by at least 25%.
Two facilities on Long Island that handle 1.2 million flights in and out of Newark, LaGuardia, and JFK Airports annually have nearly 40% of positions unfilled. There’s no quick fix, as it can take more than four years to train a new air traffic controller at some locations. Training at Ronald Reagan Washington National Airport, where the passenger plane involved in last week’s crash was attempting to land, requires almost 16 months to complete.
