Muscat: Oil prices today rose by around USD 1 a barrel after a US court blocked most of President Donald Trump's tariffs. Brent crude futures climbed USD 1.03, or 1.6 percent, to USD 65.93 a barrel. US West Texas Intermediate crude advanced by USD 1.06, or 1.7 percent, to USD 62.90 a barrel. A federal court has ruled that President Donald Trump overstepped his authority to impose sweeping tariffs that have raised the cost of imports for everyone.

According to Oman News Agency, the court's decision to block the tariffs has led to a significant reaction in the oil markets, contributing to the rise in oil prices. The ruling has eased concerns among traders and investors who were worried about the potential negative impact of the tariffs on global trade and economic growth. The decision is expected to influence the dynamics between oil supply and demand, providing a temporary boost to oil prices.