Crude oil prices dipped but stabilized today, after rising to a three-week high on Monday as traders brace for the impact of the additional 25% tariffs that the Trump administration is set to impose on Indian imports from Wednesday. At the time of writing, Brent crude was trading at $68.48 per barrel, with West Texas Intermediate at $64.46 per barrel, both slightly down from Monday’s close.
With principals announcing an agreement on a final investment Monday, construction will soon begin on a 450-mile pipeline connecting critical natural gas sources from the Permian Basin in West Texas to the Katy area in the Gulf Coast region of the state.
Curious Minds Corner
What does the word “petroleum” literally mean in Latin?