Recent developments surrounding US tariffs have led to significant volatility in oil prices. As concerns about potential supply disruptions mount, oil prices have climbed, with WTI trading around $73.00 and showing a 2.5% increase due to trade war fears. Major financial institutions like Goldman Sachs suggest that while tariffs could spur inflation and higher gas prices at the pump, their impact on oil prices may be short-lived. Despite the immediate rise in prices, analysts warn that a slowdown in global growth could lead to a subsequent plummet in crude prices. The tariffs, primarily affecting oil from Canada and Mexico, signal a potential shift in trade patterns as US refiners look to Latin America and Iraq for supply. Overall, the market remains sensitive to tariff tensions and stockpile fluctuations, as investors brace for further developments.