Trump responds to "TACO" deal, slams Wall Street for not understanding negotiations
There is a saying circulating on Wall Street now that Trump ultimately does not want to fulfill his extreme tariff threats. Trump is annoyed by this rhetoric, stating that his repeated retreats are part of a trade compromise strategy. "It's called negotiation," Trump said, explaining that as part of the negotiation, he intentionally "sets an outrageously high number" and then "adjusts it slightly downward." During an event in the Oval Office, Trump was asked to respond to reports of the so-called "TACO" deal. TACO stands for Trump Always Chickens Out, where investors buy low after Trump issues tariff threats, and when he eventually softens his tone, the stock market rebounds.
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EIA expects Brent crude spot prices to remain at $100 per barrel for the rest of the year and raises the average price forecasts for this year and next.
The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.
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