Oil News: Crude Tumbles as Trump's Tariffs Threaten China Demand Outlook
Portfolio Pulse from
Crude oil prices have tumbled to their lowest levels since February 2021, driven by escalating US-China trade tensions and potential demand reduction. President Trump's 104% tariff on Chinese goods has sparked market uncertainty, with Rystad Energy warning of potential 50,000-100,000 barrel per day demand reduction. OPEC+ output increase and Goldman Sachs' bearish price projections further compound the negative market sentiment.
April 09, 2025 | 11:15 am
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The US Brent Oil Fund (BNO) is likely to experience price pressure due to reduced global oil demand expectations and increased market uncertainty from US-China trade tensions.
The escalating trade tensions, potential demand reduction in China, and OPEC+ output increase create a bearish environment for oil-related assets like BNO. Goldman Sachs' downward price projections further support a negative short-term outlook.
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