Oil edges up after Trump steps backs from tariff threats over Greenland
Oil prices increased slightly after President Trump backed away from tariff threats regarding Greenland, easing U.S.–Europe trade war concerns. Brent crude rose 0.15% to $65.34, while West Texas Intermediate climbed 0.23% to $60.76. The rise follows OPEC+ producer Kazakhstan's output halt and Trump's comments suggesting a potential resolution over Greenland. Analysts believe oil prices may stabilize around $60, despite rising U.S. crude and gasoline stocks, which limit further price gains in an oversupplied market.
