Oil futures were up sharply Monday after President Trump over the weekend slapped tariffs on Canada, Mexico and China, sparking worries over U.S. crude imports, though upside was limited by concerns a trade war would dent demand.

Oil prices rise on the first day of trade after the US imposed tariffs on Canada and Mexico, with analysts divided on the long-term impact.

Oil prices jumped on Monday after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, raising fears of crude supply disruption from the two biggest suppliers to the U.S., but the prospect of lower fuel demand capped gains.

U.S. crude oil inventories increased for the first time in 10 weeks, beating analyst’s expectations, as exports fell and refineries lowered their capacity use.

Gas prices in Florida are on something of a rollercoaster. But the news is good this week, with prices down 15 cents per gallon over last week, according to AAA — The Auto Club Group. Pump prices fell from $3.22 per gallon last week to $3.07 per gallon Sunday, following a downward slide in crude oil prices after winter storms receded.

Oil prices edged up in volatile trade on Monday but closed at a one-month low on the expiration of a higher-priced contract, as the market digested U.S. President Donald Trump's planned imposition of tariffs on Canada,

Oil advanced as President Donald Trump placed hefty tariffs on a range of imports, including energy from Canada and Mexico, threatening higher costs for American consumers.