Oil prices edged up on Monday, with traders still on edge despite the U.S. pulling back from initial sanctions threats against Colombia, reducing immediate concern over oil supply disruptions.

The emergency tariffs announced by President Donald Trump would impact billions of dollars of goods entering the U.S.

The U.S. swiftly reversed plans to impose sanctions and tariffs on Colombia after the South American nation agreed to accept deported migrants from the United States, the White House said late on Sunday. Colombia last year sent about 41% of its seaborne crude exports to the U.S., data from analytics firm Kpler shows.