'Negative equity' is on the rise — and even car dealers are concerned

Wall Street braces for oil refiners' lower Q4 earnings, tariff plans

Wall Street is bracing for a sharp decline in U.S. oil refiners' fourth-quarter profits as fuel demand softened, while seeking clarity on the sector's preparations for President Donald Trump's threatened tariffs on crude imports from Canada and Mexico. U.S. refiners have seen earnings slide from record levels in 2022, when a recovery in demand following the COVID-19 pandemic and Russia's invasion of Ukraine drove up fuel prices. That demand has since slowed, and now Trump's promise to set a 25% tariff on oil imports from Canada and Mexico by Feb. 1 could further hit profits by driving up the cost of crude.

Reuters

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7 hours ago

'Negative equity' is on the rise — and even car dealers are concerned

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