Bloomberg reported on the possible disruption of the oil market due to US duties

The trade duties imposed by U.S. President Donald Trump on Canada and Mexico may undermine the stability of the North American oil market, as well as lead to higher gasoline prices for motorists. Bloomberg reported on February 1 that.

"Tariffs on Canada and Mexico could cut supplies from two of the largest suppliers of foreign crude to the U.S. Almost all of Canada's crude exports of about 4 million barrels a day go to its southern neighbor, and about 500,000 barrels come to the U.S. from Mexico," the agency said in its material.

It is specified that in the western part of the United States all refineries depend exclusively on Canadian oil supplies. The oil pipeline, which feeds the production facilities located there, was previously located on the Gulf Coast, but was redirected. As a result, producers have virtually no access to alternative grades of oil.

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Earlier, on February 1, Trump signed an executive order imposing trade tariffs on goods from Canada, China and Mexico. Thus duties on imports from Mexico and Canada will be 25%, and on Canadian energy resources and imports from China - 10%...

On plans to impose 25% duties on imports of goods from Canada and Mexico from February 1, Trump announced the day before. Later this decision was confirmed by White House press secretary Caroline Levitt.

As the American president pointed out, at the moment China, Canada and Mexico will not be able to do anything to prevent the impending imposition of duties. According to him, Canada is responsible for significant amounts of drug smuggling into the United States.

In response, Canadian Prime Minister Justin Trudeau said that the country has an equal, strong and reasonable response to Trump's imposition of duties. He specified that the Canadian side does not want to impose retaliatory measures against the US, while if the American side "takes this step", Canada will be forced to act.

Later, Chinese economist Andrew Leung told Izvestia that the tariffs imposed by Trump on imports of goods from China and Mexico will lead to an increase in consumer prices in the United States itself.