Oil prices have declined amid expectations of increased supply from OPEC+ and growing concerns over U.S. tariffs. Early indications showed oil prices falling due to prospects of more OPEC+ output and easing geopolitical risks in the Middle East. However, as the U.S. tariff deadline approached, market sentiment shifted, with traders increasingly worried about the impact of trade tensions on fuel demand. The uncertainty surrounding U.S. tariff policies has contributed to a cautious outlook, causing oil prices to edge lower. The U.S. dollar has remained indecisive as investors await clearer guidance on tariffs, further influencing market dynamics. Overall, the combination of anticipated OPEC+ production hikes and escalating trade tensions has pressured oil prices downward in recent weeks.
Precios del petróleo caen ante posible exceso de oferta y temores sobre aranceles https://t.co/iuRAXWok31
US dollar slumps as Trump's tariff deadline looms - https://t.co/AVHLUC36vP via @Reuters
Oil prices fall as key trade talks falter ahead of tariff deadline - https://t.co/mvwGJP6Mnt via @Reuters