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MNI Commodity Weekly: Tariff Action Set to Test U.S. Refiners

AnalysisHomepageCommodities Weekly AnalysisStory

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Executive Summary:

  • Tariff Action Set to Test U.S. Refiners: U.S. refiners speculated last month over the impact of Mexico/Canada tariffs and its potential cost burden. Now they look set to test those hypotheses as Trump turns threats to reality in early March after a one-month reprieve.
  • Oil Markets: Crude extends its losses under further pressure from oversupply concerns amid rising OPEC+ output and expected weaker global demand due to increased protectionism and trade wars. US oil product cracks are trading without clear direction this week after recent losses, weighing the impact from US tariffs on Canada and Mexico.
  • Analyst Views: See latest oil market views by biggest names in industry
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Download Full Report Here:

Executive Summary:

  • Tariff Action Set to Test U.S. Refiners: U.S. refiners speculated last month over the impact of Mexico/Canada tariffs and its potential cost burden. Now they look set to test those hypotheses as Trump turns threats to reality in early March after a one-month reprieve.
  • Oil Markets: Crude extends its losses under further pressure from oversupply concerns amid rising OPEC+ output and expected weaker global demand due to increased protectionism and trade wars. US oil product cracks are trading without clear direction this week after recent losses, weighing the impact from US tariffs on Canada and Mexico.
  • Analyst Views: See latest oil market views by biggest names in industry