Crude oil futures are facing a downward trend due to uncertainty surrounding U.S. President Donald Trump's tariff policies, which could negatively affect both global economic growth and energy demand. The market is demonstrating a bearish sentiment, exacerbated by a rise in U.S. oil production expectations and easing geopolitical tensions in the Middle East. This decline is further influenced by new data showing a rise in U.S. oil inventories, adding to traders' uncertainty about demand levels. Market participants remain vigilant about developments regarding tariffs and their potential impact on prices.
Crude oil futures are declining due to uncertainty over Trump's tariff policies that could impact global economic growth and energy demand.
The market's sentiment remains bearish as ongoing concerns about U.S. tariff proposals lead to sustained losses in both Brent and WTI crude.
Expectations of increased U.S. oil production coupled with falling geopolitical tensions in the Middle East contribute to downward pressure on oil prices.
The API reported an increase of 1 million barrels in U.S. oil inventories after five weeks of declines, adding to demand uncertainty.
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