Brent crude prices have experienced a decline of over 3%, reaching their lowest point since 2021. Oil prices approached their lowest closing levels since the height of the coronavirus pandemic in 2021 on Friday, impacted by U.S. President Donald Trump’s announcement of new tariffs and increased output from the OPEC+ producer group. Brent futures experienced a significant Read More
On Thursday, eight OPEC+ nations reached an unexpected consensus to expedite their strategy for phasing out oil production cuts, opting to raise output by 411,000 barrels per day in May. This decision led to a continuation of the significant declines in oil prices observed earlier. Oil prices, having already decreased by more than 4% following Read More
Oil prices stabilized on Wednesday following a decline in the prior session, driven by apprehensions that new U.S. tariffs, expected to be announced later in the day, could exacerbate a global trade conflict, potentially constraining crude demand. The announcement of tariffs by President Trump is set to occur, concurrently with heightened sanctions on Iran and Read More
Oil prices decline even in the face of Trump’s caution regarding potential tariffs on Russian purchasers. Oil prices declined on Monday, positioning themselves for a slight quarterly loss. This movement occurred in the context of a cautionary statement from U.S. President Donald Trump, indicating the potential for secondary tariffs on purchasers of Russian oil should Read More
