Crude oil edged lower Wednesday after President Trump expanded his tariff threats to include a 10% levy on China and the European Union - two of the world's top energy markets - following his plans to impose tariffs as high as 25% on goods from Canada and Mexico - which are major crude suppliers to the U.S.

U.S. crude oil was down $1.89, or 2.4%, to $75.99 per barrel by 8:29 a.m. ET, while global benchmark Brent fell $1.30, or 1.6%, to $78.89 per barrel. Trump said after his inaugura

Workers perform their tasks at an oil platform in Daqing Oilfield in Daqing, northeast China's Heilongjiang Province, Nov. 25, 2024. (Photo: Xinhua) China aims for stable crude oil production above 200 million tons in 2025,