The impact of tariffs on energy prices

Mr. Choeib Boutamine

May 26, 2025

Speaking to CNBC, the CEO of Ranadrill Energy Mr. Choeib Boutamine says that tariffs have a direct impact on the energy prices.

He states that on April 2nd, the energy market has experienced notable fluctuations. Just before that date, oil prices were around 74 USD per barrel. However, following the announcement of the liberation day, prices decreased to between 60 and 62 USD, and are currently around 64 USD.

Despite this decrease, prices have remained relatively stable for the past seven weeks. Last week, oil reserves increased to 1.2 million barrels in the US, primarily due to increased imports, which tend to rise when prices are low.

Looking ahead to the summer, fundamental factors will play a crucial role in the energy market. The high demand for electricity, as well as the driving season—which increases the need for gasoline and diesel—are expected to significantly influence prices and market dynamics.