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Oil prices fell as the US-China trade war intensified, with Brent futures down 0.6% to $65.09 and US West Texas Intermediate crude down 0.5% to $62.06. President Trump raised tariffs on China to 125%, while China retaliated with an 84% import levy on US goods, creating uncertainty that could impact global oil demand.Despite a recent 4% increase in crude prices, analysts warn that ongoing trade tensions and rising US crude inventories—up 2.6 million barrels—pose risks to market stability. The Keystone Pipeline remains shut due to an oil spill, while the Caspian Pipeline Consortium has resumed operations after legal restrictions were lifted.
Oil prices dropped significantly, with Brent futures down 2.63% to $72.98 a barrel and West Texas Intermediate down 2.80% to $69.70, following President Trump's unexpected announcement of new tariffs that could hinder economic growth and fuel demand. Market analysts predict increased volatility as the tariffs may lead to negotiations and retaliatory measures, while OPEC+ is set to discuss production adjustments amid rising US crude inventories, which increased by 6.2 million barrels last week.
Oil prices rose slightly amid US President Trump's threats of secondary tariffs on Russian and Iranian crude, pushing Brent to $74.98 and WTI to $71.70. However, concerns over a potential trade war and increased supply from OPEC+ and the US are limiting gains. Analysts predict that slower global growth could dampen fuel demand, countering any supply reductions from Trump's threats.
Oil prices rebounded slightly after hitting multi-year lows, with Brent futures at $69.69 and WTI at $66.70. However, tariff uncertainties and increased supply from major producers continue to weigh on the market, as US crude inventories rose significantly, indicating weak demand.
Oil prices declined for a third consecutive session as OPEC+ plans to increase output in April coincided with concerns over US tariffs on Canada, Mexico, and China, which may dampen economic growth and fuel demand. Brent futures fell to $70.80 a barrel, while US West Texas Intermediate crude dropped to $67.68. The tariffs, part of a broader trade war, are expected to slow growth and impact fuel consumption in the US, the world's largest oil consumer.
Oil prices declined for a third consecutive session as OPEC+ plans to increase output in April coincided with concerns over US tariffs on Canada, Mexico, and China, which may dampen economic growth and fuel demand. Brent futures fell to $70.80 a barrel, while US West Texas Intermediate crude dropped to $67.68. The tariffs, part of a broader trade war, are expected to negatively impact jobs and consumption in the US, the world's largest oil consumer.
Oil prices experienced a slight increase in Asian trading but are set for a third consecutive weekly decline due to ongoing tariff concerns and US-China trade tensions. Brent crude rose to $74.61 a barrel, while US West Texas Intermediate reached $70.85, both reflecting weekly drops of 2.8% and 2.3%, respectively. Analysts highlight that fears of a trade war and rising US crude inventories are overshadowing the impact of new US sanctions on Iranian oil exports to China.
Positive sentiment in markets was driven by hopes of government support, despite a decline in Japan's Nikkei index. The launch of DeepSeek's AI model raised concerns over US tech dominance, impacting shares of major Japanese tech firms. Meanwhile, oil prices fell under pressure from US calls for OPEC to cut prices, and the euro weakened against the franc.
Wall Street opened modestly higher as investors awaited new inflation data and the start of earnings season, with S&P 500 and Dow futures up 0.3%. KB Homes surged over 9% after exceeding sales and profit targets, while Signet Jewelers fell more than 11% due to disappointing sales and lowered guidance.In Asia, Japan's Nikkei 225 dropped 1.8% after a holiday, while Hong Kong's Hang Seng and Shanghai Composite rose 1.8% and 2.5%, respectively, buoyed by regulatory support for market stability. Oil prices dipped slightly, and Bitcoin saw a 3% increase after recent declines.
Jun Rong
People
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