The United States Commerce Secretary nominee, Howard Lutnick, hinted that the imposition of tariffs on Canada and Mexico might not be a done deal. International crude oil prices fell on January 29.

West Texas Intermediate (WTI) crude for March delivery decreased by 1.6%, reaching US$72.62/barrel on the New York Mercantile Exchange. Brent crude for March delivery fell by 1.2%, settling at US$76.58/barrel.