1138 GMT - U.S. President Trump's proposed 25% tariff on steel imports could increase shale producers' costs by 3%, DNB Markets' Helge Andre Martinsen and Tobias Ingebrigtsen say. U.S. shale producers rely on steel for drilling rigs, pipes and other equipment necessary for extracting oil and gas. A tariff would increase their costs and make it harder to maintain profit margins. Higher costs could also increase the break-even price--the price of oil at which producers cover all their expenses--by more than one dollar in the Permian Basin, putting pressure on margins for cost-sensitive barrels, according to the energy analysts. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 06:38 ET (11:38 GMT)
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