Crude oil futures rose as President Trump threatened tariffs on imports from Canada and Mexico, with uncertainty over how OPEC+ may respond to Trump's call for the group to reduce prices.

Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.

U.S. President Donald Trump on Thursday proved that words can be just as powerful as actions — at least temporarily — after his promise to ask the Saudis and OPEC to lower the cost of oil led to a downturn in crude prices.

Trump is pressuring Saudi Arabia and other OPEC members to expand oil production in order to lower prices. TD Securities' Bart Melek discusses why prices are likely to climb despite this.

"You've got to bring down the oil price, you've got to end that war. They should have done it long ago," President Donald Trump said.

Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.

ASHEVILLE, NC. (Reuters) - U.S. President Donald Trump on Friday reiterated his call for OPEC to cut oil prices to hurt oil-rich Russia's finances and help bring an end to the war in Ukraine.

By Yousef Saba, Maha El Dahan, Alex Lawler and Ahmad Ghaddar DUBAI (Reuters) -Saudi Arabia's energy minister and several of his OPEC+ counterparts have held talks following U.S. President Donald Trump's call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries,

Vandana Hari of Vanda Insights says that Trump's declaration of a national energy emergency was probably meant to send a strong message of his intentions to deregulate the oil and gas industry, and that it's unlikely OPEC would increase production as it is not in their interests.