# Impact of Tariff Uncertainty on Global Oil and Commodity Prices

> A US court of appeals allowed a ruling that blocked the Trump administration's tariffs to be delayed 14 days, giving the Justice Department time to appeal. Brent July futures fell 1.4% to $64.1 per barrel, while July soybean oil fell to about $1,035 per ton, down roughly 8% over two weeks on reduced export demand and possible cancellation of tariffs on Canadian canola oil.

- Date: 2025-06-01 · published 2025-06-01T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/10947-impact-of-tariff-uncertainty-on-global-oil-and-commodity-prices
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tariff uncertainty raises risk to trade flows and weighs on crude, which lowers biofuel economics and pressures soyoil and sunflower oil prices.

## Read by commodity

- SBO: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-06-02 | [Soybean oil prices fall amid uncertainty over US biofuel market and falling oil prices, but India's tariff cuts will boost demand](https://feedsoft.ai/events/10948-soybean-oil-prices-fall-amid-uncertainty-over-us-biofuel-market-and-falling-oil.md) | +4.9% | +7.0% |
| BRENT | 2019-04-28 | [Global oil prices slip after US demands OPEC to increase output](https://feedsoft.ai/events/8098-global-oil-prices-slip-after-us-demands-opec-to-increase-output.md) | -0.3% | -4.5% |
| BRENT | 2021-12-01 | [OPEC Faces Omicron Uncertainty and Rebellious Customers - The New York Times](https://feedsoft.ai/events/6304-opec-faces-omicron-uncertainty-and-rebellious-customers-the-new-york-times.md) | +6.8% | +9.0% |
| BRENT | 2025-04-04 | [Why OPEC+ is accelerating oil production as prices tank, tariffs hit](https://feedsoft.ai/events/25276-why-opec-is-accelerating-oil-production-as-prices-tank-tariffs-hit.md) | -9.8% | -13.9% |
| BRENT | 2025-06-02 | [Soybean oil quotations are declining against the backdrop of uncertainty in the US biofuel market and falling oil prices, but the reduction of duties in India will strengthen demand](https://feedsoft.ai/events/10944-soybean-oil-quotations-are-declining-against-the-backdrop-of-uncertainty-in-the.md) | +4.9% | +7.0% |
| SBO | 2025-06-02 | [Soybean oil prices fall amid uncertainty over US biofuel market and falling oil prices, but India's tariff cuts will boost demand](https://feedsoft.ai/events/10948-soybean-oil-prices-fall-amid-uncertainty-over-us-biofuel-market-and-falling-oil.md) | -2.3% | +5.8% |
| SBO | 2024-08-27 | [NOPA Calls Proposed Vegetable Oil Cap Unwarranted; Warns of Impact on Fuel Prices, Air Quality, and Consumers - NOPA](https://feedsoft.ai/events/15192-nopa-calls-proposed-vegetable-oil-cap-unwarranted-warns-of-impact-on-fuel.md) | +2.0% | +1.6% |
| SBO | 2025-05-02 | [Global food prices edge up in April amid new U.S. tariff policies: FAO-Xinhua](https://feedsoft.ai/events/11120-global-food-prices-edge-up-in-april-amid-new-u-s-tariff-policies-fao-xinhua.md) | -1.9% | -2.4% |

## Sources

- agroreview.com: https://agroreview.com/en/newsen/crops/uncertainty-over-tariffs-lowers-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.