Oil prices fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while focus turned to potential U.S. tariffs on Canadian and Mexican imports.

Oil futures settled lower on Monday, as the Trump administration’s ongoing tariff threats and their potential economic impact, along with concerns over the potential for a slowdown in AI-related power demand,

The Energy Information Administration (EIA), in its January Short-Term Energy Outlook, is forecasting global oil prices (Brent crude oil)