Oil prices remained under pressure as heightened trade war fears clouded global economic outlooks. President Donald Trump’s renewed tariff threats on China stoked uncertainty in the markets, sparking concerns over weakening demand for crude. Brent crude held near $71 per barrel, while WTI hovered around $62, extending the previous day’s losses.
The tariff warnings have raised alarms about further disruptions in global trade, particularly impacting energy consumption. Analysts caution that prolonged tensions could exacerbate existing supply-demand imbalances, deepening volatility in oil markets. With no clear resolution in sight, investors remain cautious, awaiting signals of progress in U.S.-China negotiations.
