Oil prices continued their downward trend as concerns mounted over the potential impact of U.S. tariffs on global economic growth. Brent crude fell 1.2% to $83.67 per barrel, while West Texas Intermediate (WTI) dropped 1.5% to $78.34. Investors remain cautious as mixed signals about the future of trade policies under former President Donald Trump’s tariffs keep markets on edge.
Traders are grappling with fears that the tariffs could slow economic activity, weakening demand for energy. The recent sell-off reflects broader uncertainty in commodity markets, as analysts debate the long-term implications of trade tensions. Sluggish growth forecasts from key economies like China and the Eurozone have compounded the pressure on oil, heightening speculation about reduced demand in 2025.
