0914 GMT - Oil prices ease in early trade amid concerns over U.S. trade tariffs and an industry report showing a buildup in U.S. crude inventories. Brent crude is down 0.4% to $75.74 a barrel, while WTI falls 0.3% to $71.89 a barrel. U.S. President Trump said he is considering tariffs of 25% or more on automobiles, semiconductors and pharmaceutical products--a move that traders fear could hurt the global economy and reduce fuel demand. Meanwhile, U.S. crude stocks rose by 3.34 million barrels last week, according to reports citing figures from the American Petroleum Institute ahead of official data later on Thursday. Crude futures settled higher in the previous trading session, supported by supply uncertainties amid disruptions to Kazakhstan's oil flows and fresh EU sanctions on Russia. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 04:14 ET (09:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.