Oil prices are rising due to Trump's order to implement "mirror" tariffs.

On Friday, oil prices increased due to rising demand for fuel and expectations that the planned U.S. global "mirror" tariffs will not take effect until April, allowing more time to avert a trade conflict.

This is reported by Reuters.

According to the publication, Brent crude futures rose by 23 cents (0.3%) to $75.25 per barrel. Meanwhile, U.S. oil WTI increased by 16 cents (0.2%) to $71.45 per barrel. Over the week, Brent gained about 0.6%, while WTI rose by 0.5%.

On February 13, U.S. President Donald Trump instructed agencies to develop a mechanism for reciprocal tariffs against countries imposing tariffs on American goods and to provide recommendations by April 1.

"The positive developments in the trade sector amid the postponement of tariffs in the U.S. create opportunities for a partial recovery in oil prices as the risks of a trade conflict diminish," noted IG market analyst Yip Jun Rong.

According to him, the rise in oil prices may be restrained as the market assesses the likelihood of a return of Russian supplies in the event of potential peace negotiations between Russia and Ukraine.

The prospect of a peace agreement raises concerns among traders, as the lifting of sanctions on the Russian Federation could contribute to an increase in global energy supplies.

According to the International Energy Agency (IEA), Russian oil exports may persist if ways to circumvent the latest package of U.S. sanctions are found, as oil production volumes in Russia slightly increased in January.

At the same time, JPMorgan analysts estimate that global oil demand reached 103.4 million barrels per day, which is 1.4 million barrels more than during the same period last year.

Background. Earlier, Mind reported that Trump announced the introduction of a 25% tariff on all steel and aluminum imports to the U.S. The U.S. President announced changes to the tariff policy regarding other countries.