Oil prices were little changed on Thursday as markets braced for threatened tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States, and awaited a meeting of OPEC+ producers.
Brent crude futures were down 7 cents, or 0.1%, at $76.51 a barrel by 0411 GMT. U.S. crude futures were little changed at 2 cents up, or 0.03%, to $72.64.
U.S. crude futures had settled at their lowest price this year on Wednesday.
Trump still plans to make good on his promise to impose tariffs on Canada and Mexico on Saturday, White House spokeswoman Karoline Leavitt told reporters on Tuesday.
Trump’s nominee to run the Commerce Department, Howard Lutnick, said on Wednesday that Canada and Mexico can avoid the tariffs if they act swiftly to close their borders to fentanyl, while vowing to slow China’s advancement in artificial intelligence.
