The trade of Venezuelan oil to China faces uncertainty after President Trump's new tariff threats. Traders are on hold, awaiting clarity, as the oil market is thrown into turmoil.
In a bold move, President Trump announces a 25% tariff on countries purchasing oil from Venezuela, effective April 2. This decision is linked to concerns over violent immigration from Venezuela, impacting global oil markets as prices surge.
Oil prices rose as President Trump warned Iran of dire consequences for Houthi attacks on shipping. With a new wave of U.S. airstrikes underway, the situation in the Middle East intensifies.
