Oil prices wavered on Monday after the U.S. and Colombia reached a deal on deportations, reducing immediate concern over oil supply disruptions but keeping traders on edge. Brent crude futures dropped 24 cents,

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Crude oil futures traded lower on Monday morning after the US threatened to impose tariffs and sanctions on Colombia after it refused to accept military deportation flights from the US.

WASHINGTON: US President Donald Trump said on Sunday (Jan 26) that he will impose sweeping retaliatory measures on Colombia, including tariffs and sanctions, after the South American count

Oil prices were edging lower in early trade amid U.S. President Donald Trump's call for OPEC to cut prices and swift trade moves rattling markets. Brent crude and WTI were both down 0.2% to $77.39 and $74.

Oil futures traded modestly lower on Monday after President Donald Trump paused steep retaliatory tariffs that he had threatened against Colombia, a key source of U.S. crude imports.

Oil market momentum was kept in check on Monday as prices fluctuated in and out of negative territory, with traders on edge despite the U.S. pulling back from initial sanctions threats against Colombia,