Oil Spikes After Mexican Tariffs Get Delayed

摘要

Just before official settlement on Thursday, when futures were trading mostly flat for the day, oil prices spiked the most in more than a week. Having lost almost 20% since late April, the oil price was approaching some key technical support levels, but the gains seem mostly related to news that the US would delay tariffs against Mexico. Just after those headlines, broader equities markets, oil and the peso all jumped in unison, even though details were limited.