COMMODITY
Crude oil futures end higher amid India-US trade deal, weak US dollar
Feb-04-2026

Rebounding from yesterday's steep losses, Crude oil futures ended higher on Tuesday as the U.S. dollar index moved lower. In addition, a U.S.-India trade agreement rejuvenated the markets, leading to anticipation of a spur in energy demand. U.S. President Donald Trump stated that the U.S. would cut the main tariff on India from 25% to 18% and remove the penalty tariff he had imposed on India for buying Russian crude oil after India stops buying it altogether. 

Benchmark crude oil futures for March delivery rose $1.07 or 1.72% to settle at $63.21 a barrel on the New York Mercantile Exchange. Brent crude for April delivery increased $1.03 or 1.55% to settle at $67.33 a barrel on London's Intercontinental Exchange.

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