Why U.S. gasoline prices could rise if Trump slaps tariffs on Canadian crude oil next month
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President Trump is considering imposing tariffs on Canadian crude oil, which could lead to higher U.S. gasoline prices due to the reliance of U.S. refiners on cheaper Canadian heavy crude.
February 11, 2025 | 5:15 pm
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POSITIVE IMPACT
The potential tariffs on Canadian crude oil by President Trump could affect the price of oil, impacting the United States Brent Oil Fund (BNO), which tracks the price of Brent crude oil.
BNO tracks Brent crude oil prices, which could be influenced by changes in the oil market due to potential tariffs on Canadian crude. This could lead to price volatility in BNO.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50