10 April | Oil

Oil falls again as trade war concerns continue to rattle markets

Oil falls again as trade war concerns continue to rattle markets

Oil prices dropped again after a brief rally triggered by US President Donald Trump’s decision to pause tariffs for dozens of countries while hiking duties on Chinese imports to 125%. Investors are growing uneasy over the sharp shifts in US trade policy, Bloomberg reports.

Prices for both Brent and WTI crude have fallen below $65 and $62 per barrel, respectively. Meanwhile, nearer-term contracts are trading at a discount to longer-dated ones, which is a clear sign of market weakness, as noted by the agency.

According to Bloomberg, China remains the world's top oil importer, and the latest US tariff hikes could further dampen the country's fuel demand. Even before Trump's return to the White House, China's appetite for energy had been weakening—partly due to its prolonged real estate crisis and partly because of growing electric vehicle adoption and renewable energy expansion.

Elena Berseneva MarketCheese
Period: 19.05.2025 Expectation: 1000 pips
AUDUSD bounces off 0.635 support level toward 5-month high
Today at 09:38 AM 4
Period: 22.05.2025 Expectation: 89500 pips
BTCUSD correction wave forms sell signal targeting 93,700
Today at 08:47 AM 8
Period: 20.05.2025 Expectation: 4065 pips
Optimism for Tesla is limited by weak sales and competition
Today at 05:07 AM 8
Period: 16.05.2025 Expectation: 700 pips
Silver prices started to rebound toward 33.6
Yesterday at 11:15 AM 39
Period: 13.05.2025 Expectation: 900 pips
USDJPY seen retreating to 145.00
Yesterday at 09:38 AM 20
Period: 18.05.2025 Expectation: 3085 pips
Trading optimism and technical signal reinforce S&P 500's upside outlook
Yesterday at 08:18 AM 39
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Go to forecasts