Following the United States' imposition of a 10% tariff on imported products from China, Chinese authorities have implemented retaliatory measures, raising concerns about the market outlook. International crude oil prices fell on February 4.

West Texas Intermediate (WTI) crude for March delivery decreased by US$0.46 (0.6%), reaching US$72.70/barrel on the New York Mercantile Exchange. Brent crude for April delivery rose by US$0.24 (0.3%), settling at US$76.20/barrel.