The cost of steel pipe used to line oil and gas wells rose after President Trump said he would impose tariffs on steel and aluminum imports.

U.S. tariffs on steel and aluminum imports are poised to escalate costs for the oilfield service companies behind North America's vast energy industry, as their operations rely heavily on these metals.

Trump's decision to double tariffs on Canadian steel to 50% raises costs and uncertainty for West Texas, southeast New Mexico energy companies.