05:40 AM EDT, 03/31/2025 (MT Newswires) -- Crude oil prices rose early on Monday amid concerns about U.S. President Donald Trump's recent statements regarding tariffs and potential conflict escalation in the Middle East.

Brent crude gained 0.5% to US$74.01/barrel and West Texas Intermediate crude grew 0.5% to US$69.72/b at last look.

U.S. President Donald Trump said he may impose secondary tariffs on buyers of Russian oil if efforts to end the war in Ukraine are blocked, Reuters said in a Monday report. Trump also threatened bombings and secondary tariffs targeting Iran if an agreement over its nuclear program is not reached, the report said.

Despite these threats, the oil price remains relatively muted as the market did not believe the U.S. president would follow through with his threats, analysts said in the report. A trade war would also weigh on global growth and oil demand.