Oil prices have remained stable following Trump's announcement of a potential 25% tariff on countries purchasing oil from Venezuela.

This information comes from Reuters.

Brent crude futures increased by 1 cent to $73.01 per barrel. Meanwhile, West Texas Intermediate saw a decrease of 1 cent, settling at $69.10.

Both benchmarks rose by over 1% on Monday after Trump warned of a 25% tariff on nations importing oil and gas from Venezuela.

"We expect WTI prices to hover around $70 until the end of the year, with a potential seasonal uptick as the U.S. and other countries enter their driving season," said Tsuyoshi Ueno, a senior economist at the NLI research institute.

Reminder:

OPEC+ is likely to stick to its plan to increase oil production for the second consecutive month in May.