Trump considering 25 tariffs on Mexico, Canada from February
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U.S. dollar strengthened after Trump39;s tariff comments

LONDON, Jan 21 Reuters Oil prices fell on Tuesday as investors assessed U.S. President Donald Trump39;s plans to apply new tariffs later than expected while boosting oil and gas production in the United States.

Brent crude futures were down 1.52, or 1.9, at 78.63 per barrel at 1406 GMT. U.S. West Texas Intermediate crude futures were down by 2.14, or 2.8, at 75.74. There was no settlement in the U.S. market on Monday due to a public holiday.

Pressuring prices on Tuesday was a stronger U.S. dollar, which makes oil more expensive for holders of other currencies.

The current weakness is most probably Trump and dollarrelated, said PVM analyst Tamas Varga.

The dollar rebounded after Trump39;s comments on imposing tariffs against Mexico and Canada, Varga added, noting that its strength is negatively impacting oil prices.

Trump said he was thinking of imposing 25 tariffs on imports from Canada and Mexico from Feb. 1, rather than on his first day in office as previously promised.

The initial sense of relief that trade measures weren39;t an immediate focus on Trump39;s 39;Day 139; was quickly offset by reports of 25 tariffs on Mexico and Canada as early as February, which saw risk sentiments turn, said Yeap Jun Rong, market strategist at IG.

Trump did not impose any sweeping new trade measures…