Oil Edges Higher as Delayed Mexico Tariffs Ease Supply Concerns
- Energy imports from Canada face 10% levy starting from Tuesday
- US crude outpaces other benchmarks as gasoline also climbs
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Oil edged higher after a volatile session as US President Donald Trump’s tariffs on Mexico were delayed by a month and investors assessed the levies’ potential to slow global economic growth, undercutting concerns about short-term supply constraints.
West Texas Intermediate rose 0.9% to end the session above $73 a barrel, paring an earlier gain of as much as 3.7%, after Mexico President Claudia Sheinbaum said tariffs on her country would be pushed back by one month after a conversation with Trump on Monday.