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The Economic Times

Markets / The Economic Times

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Oil edges up after Trump steps backs from tariff threats over Greenland

Oil prices saw a slight increase as President Trump eased trade war fears by stepping back from tariff threats over Greenland. This de-escalation supports global economic outlook and oil demand. Additionally, hopes for no further U.S. military action in Iran, coupled with supply disruptions in Kazakhstan, are also influencing the market, though rising U.S.

22 Jan 2026 8:31 am