The US crude benchmark outpaced gains in other oil markets after President Donald Trump announced tariffs that threaten flows from two of America’s biggest foreign suppliers.

Oil prices edged up in volatile trade on Monday but closed at a one-month low on the expiration of a higher-priced contract, as the market digested U.S. President Donald Trump's planned imposition of tariffs on Canada,

Oil prices on the New York fuel exchange are falling sharply after China imposed tariffs on American goods, including oil and liquefied natural gas, brokers report. A barrel of West Texas Intermediate oil for March delivery is priced at $72.