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World cocoa and coffee prices have dropped following President Trump's announcement of significant tariffs on US imports, raising concerns about demand in the largest consumer market. Key coffee producers like Vietnam and Indonesia face steep tariffs, while Brazil and cocoa-producing nations also see increased costs. The tariffs are expected to create inflationary pressures in the US and complicate import processes for roasters and traders.
Oil prices steadied as the market anticipates new US tariffs, set to be announced at 11:00 p.m. Saudi time, which could exacerbate a global trade war and impact crude demand. Brent futures held at $74.49 a barrel, while US West Texas Intermediate rose slightly to $71.23.Despite a nearly 2 percent increase in March, prices remain stable amid concerns over the tariffs, with analysts suggesting that the announcement could lead to price fluctuations. US crude inventories rose by 6 million barrels, contrasting with declines in gasoline and distillate stocks, as the market awaits official data from the Energy Information Administration.
Traders are reducing their short positions in Europe’s diesel market as cold weather is expected to drive up natural gas prices, providing support for diesel. This marks the fourth consecutive week of cuts in short bets on ICE gasoil, the longest streak since February.
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trump tariffs threaten coffee and cocoa prices amid market turmoil
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09:30 04.04.2025
oil prices steady as market anticipates new us tariffs
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10:22 02.04.2025
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