Current U.S. tariffs on Chinese imports stand at 145%
Analysts at Citi Research lowered their three-month price forecast for Brent to $55 per barrel
The U.S.-China trade talks come after weeks of escalating tensions
In the U.S., the dollar fell to a one-week low against a basket of currencies
OPEC+ agreed on Saturday to further speed up oil production hikes
rump's trade war sends a chill through the corporate world
Oil prices have dropped by about $10 per barrel
The United States on Tuesday issued fresh sanctions targeting Iran
U.S. West Texas Intermediate crude was at $64.46 a barrel,
Brent crude futures fell 11 cents, or 0.2%, to $64.77 per barrel
On Friday, the national average of gasoline sat at $3.21 per gallon
Brent futures were up $1.82, or 2.9%, to $64.64 a barrel
The scenario has presented a case for a global recession
Oil was already reeling from last week’s market surprise
Markets are still digesting tariffs
Investors shrugged off mostly bearish U.S. government crude inventory data
U.S. President Donald Trump plans to announce reciprocal tariffs
Brent crude futures dropped 11 cents to $73.68 a barre
Price gains were however capped by news that OPEC+' will likely proceed with planned May oil output hike
Brent was on track to rise more than 2%
The US on Thursday issued new Iran-related sanctions
The Israeli military resumed ground operations
Russia produced about 9.2 million barrels per day (bpd) of crude in 2024
Every shot fired by the Houthis will be looked upon
OPEC+ increased its production by 363,000 barrels per day in February
U.S. gasoline inventories fell by 5.7 million barrels
Deputy Prime Minister Alexander Novak told reporters that the OPEC+ producer group will go ahead with its April increase
Downside risks on demand will likely be greater than supply side risks
U.S. West Texas Intermediate (WTI) crude was off $1.19 a barrel
The International benchmark Brent crude traded at $72.73 per barrel