Petroleum prices decreased on Monday in the midst of concerns that the intensification of the United States and China’s commercial war will vapor global economic growth and demand for fuel. Brent and Wti Crude have each of which around $ 10 this month. | Photo credit: Istockphoto
Oil prices fell Monday about the concerns of the growing commercial war between the United States and China, weaken world economic growth and the demand for Mella fuel.
Brent Crude’s futures fell 29 cents, or 0.45%, at $ 64.47 per barrel at 0126 GMT. The future intermediate raws of western Texas in the United States were quoted at $ 61.23 per barrel, 27 cents, or 0.44%.
Both contracts have lost around $ 10 per barrel since the beginning of the month, since a commercial war between the two largest economies in the world has intensified.
Goldman Sachs hopes that Brent averaged $ 63 and WTI will average $ 59 for the 2025 reminder and see Brent averaging $ 58 and WTI $ 55 in 2026.
See the world demand for oil in the fourth quarter of 2025 increasing by only 300,000 barrels per year, “given the weak growth perspective,” analysts led by Daan Struyven said in a note, added for the demand of deceleration of the demand.
Beijing increased its tariffs on US imports to 125% on Friday, going back against the decision of President Donald Trump to generate Dakes in Chinese products and raise bets in a commercial war that threatens to open the global supply chains.
Trump gave on Saturday exclusions of steep tariffs on smartphones, computers and someone who imported largely from China, but the United States Secretary of Commerce, Howard Lutnick, on Sunday by the critical technology of Sid Critical Withmeme Facchduaty the next two months.
The commercial war has concerns that exports not sold could continue to reduce Chinese national prices.
“China’s inflation data were a window, an economy that is not fit for a commercial fight. Consumer prices fell for a second consecutive month in year -on -year terms, while the prices of the producer attributed to their singer, launched on April 10.
As companies prepare for a possible decrease in demand, the US energy companies
Potentially that supports oil prices, the US Secretary of Energy, Chris Wright, said Friday that the United States could stop Iran’s oil exports as part of Trump’s plan to press Tehran about its nuclear program.
Both countries held “positive” and “constructive” conversations in Oman on Saturday and agreed to reconfet next week in a dialogue to address Tehran’s growing nuclear program, authorities said during the weekend.
Posted on April 14, 2025