Silver Hits $42/oz — 45% YTD Gains —
Oil markets held steady on Wednesday as traders assess multiple factors affecting global energy markets.
President Trump’s proposed tariffs – 10% on Chinese goods and 25% on Mexican and Canadian imports starting February 1 – have shifted market focus from Russian sanctions to potential trade policy impacts.
Additionally, Trump’s declaration of a national energy emergency and plans to maximize domestic production have yet to significantly influence prices.
Meanwhile, operational disruptions from severe winter weather affected Motiva’s Port Arthur complex and reduced North Dakota’s oil production by 130,000-160,000 barrels per day.
