Oil Prices Inch Higher as Trump’s Trade Threats Counter Oversupply Fears

Oil prices were moving higher again early on Wednesday morning, recovering from oversupply fears that had driven them to five-month lows. The most recent rebound was driven by Trump’s escalating trade offensive against India over its continued imports of Russian crude. At the time of writing, Brent crude futures had risen to $68.10 per barrel and WTI had climbed to $65.59. This modest rebound highlights the uncertainty of markets over whether Trump will follow through on his threats of further tariffs and if those tariffs would have a tangible…