S&P 500 Rises Amid Cyclical Stock Gains, Inflation Data Looms 
OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
U.S. Approves Over $6.5 Billion in Military Sales to Israel Across Three Defense Contracts 
Meta Stock Surges After Q4 2025 Earnings Beat and Strong Q1 2026 Revenue Outlook Despite Higher Capex 
Democrats Question Intelligence Chief’s Role in FBI Georgia Election Raid 
U.S. Stocks Hit Unprecedented Peaks Amid Growing Speculation of Federal Rate Cuts 
Kevin Warsh’s Fed Nomination Raises Questions Over Corporate Ties and U.S.–South Korea Trade Tensions 
Saudi Arabia Raises Oil Prices for Asia Amid Market Volatility and Middle East Tensions 
Trump to Announce New Federal Reserve Chair Pick as Powell Replacement Looms 
Asian Stocks Fall as U.S. Rate Cut Expectations Fade 
Key Date for Tariff Policy Changes 
Venezuela Proposes Amnesty Law and Plans to Transform Helicoide Prison 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
Global Currencies Stabilize as U.S. Tariff Uncertainty Persists 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
U.S. President Donald Trump announced plans to impose tariffs on oil and gas imports, expected to take effect around February 18. While he did not specify which countries would be affected, he indicated that the tariff on Canadian crude could be reduced to 10%, down from the previously mentioned 25%.
The U.S. imports approximately 4 million barrels per day of Canadian oil, with about 70% processed by refiners in the Midwest. Analysts warn that imposing tariffs could increase fuel costs and reduce production at refineries reliant on heavier crude from Canada and Mexico. Many refiners in the region, including Phillips 66, HF Sinclair, and Par Pacific Holdings, could face supply disruptions if tariffs take effect.
Phillips 66 has stated that production cuts may occur in the Midwest and Rocky Mountain region due to limited alternative crude sources. Meanwhile, Valero, the second-largest U.S. refiner, is preparing for multiple scenarios. "Our teams are working on strategies to mitigate the impact of Trump's tariffs," said Valero COO Gary Simmons.
Earlier this month, U.S. crude imports from Canada reached record levels. However, with the looming tariffs, refiners are bracing for potential operational challenges and cost increases. The oil industry now awaits further details on the administration’s final tariff decision.
