The prices for oil and gas today, on Monday, have been affected after Trump introduced tariffs on Canada, Mexico, and China at the beginning of the week. The bank stated that "the potential decrease in imports of American natural gas from Canada due to tariffs is considered very insignificant and does not lead to a significant increase in prices for American natural gas." Goldman Sachs stated in a note on Sunday that the introduction of new tariffs by U.S. President Donald Trump on imports from Canada, Mexico, and China will likely have a limited impact on global prices for oil and gas in the near future. The tariffs, which come into effect on February 4, include a 25% tax.
Oil and Gas Prices Surge After Trump's Tariffs
Oil and gas prices jumped due to Trump's recently imposed tariffs on Canada, Mexico, and China. Goldman Sachs anticipates a limited short-term impact on global oil and gas prices.
