Part 1/7:
Energy Prices and Tariffs
Oil prices have increased as crude oil stands at just under $70 a barrel, rising by two-thirds of a percent to $69.58. Amid these fluctuations, President Trump declared a substantial 25% tariff on any country that purchases oil and gas from Venezuela, effective from April 2nd. In parallel, the Treasury Department extended Chevron's license to continue oil production in Venezuela until May 27, reflecting ongoing complexities in U.S. energy policies.