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Given that OPEC+ isn’t planning to cut production — in fact, they’re planning to increase it — the pressure is downward. I don’t think it will bounce back to the level it was at under the Trump presidency, no (In response to the question: "I understand that it’s impossible to predict oil prices, but still — what trend would you point to right now?")

Canada's primary export to the U.S. is oil. The U.S. operates oil refineries that process this oil to produce gasoline for the domestic market. A tariff on Canadian oil would immediately impact gasoline prices within the U.S (Gasoline prices in the U.S. will rise if tariffs on Canadian oil are imposed)