The oil-focused website Oil Price reported on Wednesday that oil prices remained slightly lower after rising on Tuesday. This came following threats from protesters to block crude oil exports at two terminals in the Oil Crescent. However, the National Oil Corporation stated that exports were proceeding at normal rates.
In a statement on Tuesday, the NOC confirmed that oil operations were continuing uninterrupted across all fields and ports. This came after discussions with protesters who had staged demonstrations at the Sidra and Ras Lanuf terminals.
At the same time, oil prices received some support from expectations that the United States might impose tariffs on Canada and Mexico, potentially making crude oil more expensive. Former President Donald Trump had threatened to impose tariffs on both neighboring countries on his first day in office and has not reconsidered this plan, despite retaliatory threats from Canada to suspend vital energy exports to the northeastern U.S., according to the website
