Oil prices fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while focus turned to potential U.S. tariffs on Canadian and Mexican imports.

Oil futures settled lower on Monday, as the Trump administration’s ongoing tariff threats and their potential economic impact, along with concerns over the potential for a slowdown in AI-related power demand,

Oil prices steadied on Wednesday as investors weighed the impact of potential U.S. tariffs on Canadian and Mexican imports, while largely shrugging off an increase in U.S. weekly crude inventory. Brent crude futures fell 2 cents to $77.

Oil prices dipped on Wednesday, giving up some of last session's gains, as a rise in U.S. crude stockpiles and easing worries over Libyan supplies weighed, although potential U.S. tariffs on Canadian and Mexican imports checked losses.