President Donald Trump's 25% tariffs on imports from...
President Donald Trump's 25% tariffs on imports from Canada and Mexico and 10% tariffs on Chinese imports are expected to take effect as soon as today, according to the White House. Trump has said the tariffs are meant to pressure the three nations to curb illegal immigration and fentanyl trafficking into the US.
Canada, Mexico, and China are America's three largest trading partners, accounting for over 40% of the goods imported into the US last year (see charts). Total trade in goods and services with all three countries exceeded $1T in 2024. The tariffs could significantly impact Canada and Mexico as roughly 70% to 80% of their goods and services are exported to the US. Both North American countries have already said they would respond to US tariffs with their own measures.
The tariffs could raise prices for American consumers and businesses on various goods, including produce, lumber, and electronics. Trump previously said he was considering an exemption for oil imports, but the White House didn't provide further details. Collection on the tariffs is reportedly expected to begin March 1. See how tariffs workhere.
Oil prices post weekly drop as outline of Trump’s tariff plans emerges
Oil futures ended lower Friday, contributing to a loss for the week,...
Oil futures ended lower Friday, contributing to a loss for the week, though prices held on to a gain for the month as traders awaited a tariff decision by President Donald Trump on crude imports from Canada and Mexico.
West Texas Intermediate crude for March delivery fell 20 cents, or 0.3%, to settle at $72.53 a barrel on the New York Mercantile Exchange, for a weekly fall of nearly 2.9%. Prices based on the front-month contract climbed 1.1% for January, according to Dow Jones Market Data.
March Brent crude the global benchmark, lost 11 cents, or 0.1%, to end at $76.76 a barrel on ICE Futures Europe, for a weekly decline of 2.2%. It finished 2.8% higher for the month. April Brent which become the front month at the end of the session, declined by 22 cents, or 0.3%, to $75.67 a barrel.
February gasoline edged down by less than 0.1% to $2.04 a gallon, tacking on almost 1.8% for the month, while February heating oil added 0.4% to $2.48 a gallon, settling 7.1% higher for the month. The February contracts expired at the end of the session.
Natural gas for March delivery ended at $3.04 per million British thermal units, down 0.1% for the session, with front-month contract prices losing 16.2% in January.
S&P 500 books weekly loss as U.S. stocks fall on Trump’s Feb. 1 tariffs
Major U.S. stock indexes ended down Friday, after the...
Major U.S. stock indexes ended down Friday, after the market appeared startled by confirmation by the White House that President Donald Trump planned to implement new tariffs on Canada, Mexico and China on Saturday.
The Dow Jones Industrial Average dropped 337.47 points Friday, or 0.8%, to close at 44,544.66.
The S&P 500 fell 30.64 points, or 0.5%, to finish at 6,040.53.
The Nasdaq Composite shed 54.31 points, or 0.3%, to end at 19,627.44.
For the week, the S&P 500 fell 1% while the technology-heavy Nasdaq retreated 1.6%. The Dow had a modest weekly gain of 0.3%.
The stock market had been trading up Friday morning ahead of the latest tariff developments, as investors digested an inflation reading that was in line with Wall Street’s expectations. Later in the trading session, Treasury yields rose as investors braced for new tariffs this weekend.
The yield on the 10-year Treasury note climbed 5.1 basis points Friday to 4.566%, according to Dow Jones Market Data. Nearly all the S&P 500’s sectors closed lower Friday as the Cboe Volatility Index, known as Wall Street’s fear gauge, jumped after the tariff developments.
Still, the U.S. stock market closed out January with monthly gains. The Dow rallied 4.7% this month, while the S&P 500 saw a monthly climb of 2.7% and the Nasdaq rose 1.6% in January.
Camino Reportedly Seeking $2B Sale as Midcon M&A Heats Up
Based on reports from January...
Based on reports from January 30, 2025, Camino Natural Resources, a major private oil and gas producer in Oklahoma's Anadarko Basin, is seeking a potential sale that could be worth $2 billion. The company's private equity owner NGP Energy Capital Management has initiated a sales process through RBC Capital Markets. Key details:
Study: Large-scale EOR could bring tax windfall for N.D.
Wider adoption of CO2-enhanced oil recovery could unlock an additional...
Wider adoption of CO2-enhanced oil recovery could unlock an additional 5 to 8 billion barrels of oil from the Bakken Shale in the long term and generate up to $9 billion in new oil tax revenue for North Dakota over the next decade, according to a new report released by state Tax Commissioner Brian Kroshus. However, federal tax policies currently favor permanent CO2 storage over EOR recovery, creating a financial hurdle that state leaders argue must be addressed to attract industry investment.
