Oil prices soared Monday following US President Donald Trump's announcement of sweeping tariffs on imports from Canada, China, and Mexico, raising fears of supply disruption.

The Canadian dollar fell to a nearly 22-year low on Sunday, while the Mexican peso and the Chinese yuan slumped after U.S. President Donald Trump imposed new tariffs on Canada, Mexico, and China.

The tariffs, effective from Tuesday, levy 25% on Canadian and Mexican imports, with a 10% rate on Canadian energy products and Chinese goods.

David Sacks, the newly appointed "crypto czar" under President Donald Trump, indicated the administration's interest in integrating bitcoin into the United States' financial strategy.

Speaking at a press conference in Washington, Sacks discussed the administration's pro-crypto stance and the consideration of a bitcoin reserve for the proposed U.S. sovereign wealth fund.

NEW YORK (Reuters) - U.S. consumers will see higher prices at the gas pump from President Donald Trump's decision on Saturday to apply tariffs on Canadian and Mexican oil, according to analysts and fuel traders.

Bitcoin (BTC), the largest cryptocurrency, finally drops below $90,000, losing $118 billion in capitalization in 12 hours. However, CryptoQuant's verified author does not expect this drop to go much lower since short-term holders remain in profit.

Oil prices climbed about 2% to a four-month high on Monday on expectations that wider U.S. sanctions on Russian oil would force buyers in India and China to seek other suppliers.

Brent futures rose $1.25, or 1.6%, to settle at $81.01 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2.25, or 2.9%, to settle at $78.82.

The U.S. dollar slipped lower Wednesday ahead of the conclusion of the latest Federal Reserve rate-setting meeting, while the Japanese yen soared after the Bank of Japan tightened its monetary policy.  

At 05:20 ET (09:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% lower to 103.992, moving within a tight range.

Oil prices rose in early Asian trading on Thursday, extending strong gains in the previous session after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and on signs of strong oil demand in the U.S.

Global benchmark Brent crude futures rose 67 cents, or 0.8%, to $81.51 per barrel by 0007 GMT, while U.S. West Texas Intermediate crude futures rose 69 cents, or 0.9%, to $78.60 per barrel.

Gold prices extended gains on Wednesday after Federal Reserve Chair Jerome Powell hinted that an interest rate cut could be on the table as early as September if inflation stays in line with expectations.

Spot gold was up 1.2% at $2,437.39 per ounce as of 3:21 p.m. ET (1921 GMT) and logged its biggest monthly rise since March, gaining over 4%. U.S. gold futures settled 0.9% higher at $2,473.

The U.S. dollar traded largely flat Tuesday, with traders wary ahead of the start of the latest Federal Reserve rate-setting meeting.  

At 05:10 ET (09:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded just higher at 104.342, moving within a tight range.