Oil prices dropped today as investors shied away from risk amid concerns over the impact of U.S. tariffs on global economic growth and fuel demand, in addition to the increased production by OPEC+.
By 09:10 Moscow time, April futures for U.S. crude oil, West Texas Intermediate (WTI), had fallen by 0.54% to $66.68 per barrel. Meanwhile, May futures for global crude oil, Brent, dropped by 0.45% to $70.04 per barrel, according to trading data.
Analysts at ING said in a note that "uncertainty surrounding the tariffs is the main driver of the weakness," adding that "oil price cuts from Saudi Arabia and contraction signals from China have also hurt sentiment."
(window.globalAmlAds = window.globalAmlAds || []).push('admixer_async_509089081')
(window.globalAmlAds = window.globalAmlAds || []).push('admixer_async_552628228')
Read More
Gold Prices Remain Stable Locally
Production from Risha Gas Field to Be Increased to 75 Million Cubic Feet per Day
FTSE 100 Holds Steady Amid U.S. Tariff Uncertainty
Oil prices dropped today as investors shied away from risk amid concerns over the impact of U.S. tariffs on global economic growth and fuel demand, in addition to the increased production by OPEC+.
By 09:10 Moscow time, April futures for U.S. crude oil, West Texas Intermediate (WTI), had fallen by 0.54% to $66.68 per barrel. Meanwhile, May futures for global crude oil, Brent, dropped by 0.45% to $70.04 per barrel, according to trading data.
Analysts at ING said in a note that "uncertainty surrounding the tariffs is the main driver of the weakness," adding that "oil price cuts from Saudi Arabia and contraction signals from China have also hurt sentiment."
