Oil prices were steady on Tuesday as traders digested another round of trade tariffs, this time a 25% levy on all U.S. imports of steel and aluminium, which could weigh on global economic and energy demand in the world's biggest oil consumer.

President Donald Trump says he will also impose "reciprocal tariffs" on any countries who place tariffs on the US.

The metals are paired as targets for import duties, but they serve different markets. Domestic steel has spare capacity, aluminum not so much.