Brent futures fell 50 cents (0.7%) to $75.46 per barrel at 0432 GMT, while US West Texas Intermediate (WTI) crude traded at 89 cents (1.2%) at $72.27.
Canadian Prime Minister Justin Trudeau and Mexican President Claudia Shainbaum both agreed to step up border enforcement efforts in response to Trump’s demands to crack down on immigration and drug smuggling.
It was suspended at a 30-day 25% tariff, with a 10% tariff on energy imports from Canada, which came into effect on Tuesday.
The oil exporter and its allies, a group known as OPEC+, called on Monday to procure Trump’s production, but agreed to stick to a policy of gradually increasing oil production from April.
Trump plans to speak to Chinese President Xi Jinping this week, the White House said that the 10% mandate for all Chinese goods is expected to come into effect Tuesday.
On the demand side, investors are searching weekly for US oil reserve data for the week ending January 31st. Analysts voted by Reuters expected a crude inventory to rise, and gasoline and distillation inventory likely fell.
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