Oil prices fell over 1% on Thursday, retreating from earlier gains, as investors weighed the potential effects of a U.S. court ruling that blocked the most sweeping of President Donald Trump's tariffs.

The US Court of International Trade has blocked the vast majority of President Donald Trump’s tariffs, dealing a blow to a key pillar of his economic agenda.A panel of three judges unanimously ruled on May 28 that the bulk of the new import taxes were issued illegally,

Live updates and the latest news on the Trump administration as Elon Musk leaves the White House and a federal trade court rules against Trump's tariffs.