Oil was steady in the early Asian trade. Imposition of U.S. tariffs on goods from any country that buys oil or gas from Venezuela. may redefine trade alliances in the energy sector, XS said.
Crude oil futures closed higher Monday, rising for the fourth straight session, receiving a boost from President's Trump threat to impose import tariffs on countries that buy oil from Venezuela.
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Oil prices were mixed but largely holding their ground, supported by geopolitical risks and supply concerns.