Goldman Sachs: U.S. Tariffs Will Have Short-Lived Limited Impact on Oil Prices
Feb 03, 2025
There are different types of oil and gas in the world. Prices for these oils and gases can go up or down. Some oils are from countries like Canada, the U.S., and Iran. Gas prices can change quickly, and this can affect how much people pay for gasoline when they fill up their cars.
In the news, South Korea found more oil and gas in the ocean. Goldman Sachs, a big company, thinks that new tariffs from the U.S. won't affect oil prices much. But if there are big trade wars, the prices could go down a lot.
There are many companies that deal with oil and gas. Chevron and Exxon are big ones. They sometimes have good earnings, but other times they don't do so well.
Some countries, like Ukraine and Russia, have issues with oil. Ukraine used drones to attack Russian oil things. In Brazil, the government doesn't interfere with the pricing of oil. And in the U.S., there's talk of buying oil from Venezuela.
Overall, oil and gas are important, but sometimes there are conflicts and issues that affect how they are bought and sold. Prices can go up or down quickly, depending on what's happening in the world. It's a big and complicated industry, with lots of news and changes all the time.