From Investing.com: 2025-03-25 01:03:00

Risk assets surged as the Trump administration hinted at a more targeted approach with tariffs, lifting oil prices. President Trump’s announcement of 25% tariffs on buyers of Venezuelan oil pushed ICE prices above $73/bbl, the highest since February. Venezuela’s oil production and exports have increased recently, with the US, China, and India being major buyers. The upcoming secondary tariffs could tighten the global oil balance significantly.

Industrial metals prices rose as sentiment improved ahead of Trump’s next round of tariffs. Copper is trading near $10,000/t after Trump signaled potential exemptions and a narrower scope for tariffs. The US Commerce Department’s consideration of import tariffs in February led to a rally in copper prices, with traders moving metal to the US anticipating levies.

Favorable weather conditions in West Africa’s cocoa-producing regions are supporting prices. Reports indicate good rainfall in Ivory Coast, Ghana, and Cameroon, aiding cocoa pod development. Ivorian cocoa arrivals reached 13,161 tonnes last week, totaling 1.43 million tonnes this season, a 12% increase year-on-year. Weather conditions continue to be favorable for cocoa crops.



Read more at Investing.com: Crude Oil Prices Jump as Secondary Tariffs Threaten Venezuelan Crude Exports