Trump’s tariff threats against Canada and Mexico keep oil prices in check

 

Scholz vows to 'defend free trade' after Trump tariff threat

 

The threat of tariffs on Canadian and Mexican crude by President Trump held crude prices in check on Thursday but they managed to make small gains for the day.

The President said if Canada and Mexico don’t do more to end shipments of fentanyl across U.S. borders, he will impose a 25% tariff as early as Saturday on their exports to the U.S.

Global standard Brent crude finished up 29 cents or 0.4% at $76.87 a barrel while West Texas Intermediate crude in the U.S. gained 11 cents or 0.2% to settle at $72.73 a barrel on the New York Mercantile Exchange.

The small gains came after both benchmarks settled Wednesday at their lowest levels of 2025.

Natural Gas finished down 12 cents or 3.88% to close at $3.05.

More Oklahoma energy stocks were in the losing column than those with gains on Thursday. Three percent losses were recorded by Helmerich & Payne, Mammoth Energy Services and PHX Minerals. NGL Energy Partners ended the day with a strong 3% gain.

 

Alliance Resource Partners, L.P.
28.38 USD−0.41 
Coterra Energy Inc
28.39 USD+0.15 
Devon Energy Corp
35.05 USD−0.020 
Empire Petroleum Corp
6.08 USD+0.020 
Expand Energy Corp
102.72 USD+0.15 
Gulfport Energy Corp
184.09 USD−1.54 
Helmerich and Payne Inc
31.82 USD−0.93 
LSB Industries Inc
8.52 USD−0.080 
Mach Natural Resources LP
17.81 USD+0.38 
Mammoth Energy Services Inc
2.99 USD−0.090 
Matrix Service Co
14.03 USD+0.28 
NGL Energy Partners LP Unit
5.56 USD+0.18 
OGE Energy Corp
42.72 USD+0.63 
ONE Gas Inc
70.50 USD+1.43 
ONEOK Inc
99.87 USD−0.51 
Ovintiv Inc
43.87 USD−0.30 
PHX Minerals Inc
3.89 USD−0.100 
SandRidge Energy Inc
12.15 USD−0.020 
Unit Corp
29.21 USD−0.087 
Vital Energy Inc
33.45 USD−0.19 
Williams Companies Inc
56.59 USD+1.26