• Thu, Mar 5, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

11 April 2025 16:08  |

Oil prices set to drop for a second week over US-China trade war

Oil prices were stable on Friday but on track for their second weekly loss in a row against a backdrop of investor concern over the burgeoning trade war between the United States and China.

Brent crude futures were down 3 cents, or 0.05%, at $63.30 a barrel by 0827 GMT while U.S. West Texas Intermediate crude futures were up 2 cents, or 0.03%, at $60.09.

Brent and WTI are poised to register weekly declines of 3.5% and 3% respectively, having both lost about 11% last week. Brent dipped below $60 a barrel at one point this week for its lowest since February 2021.

China announced on Friday that it will impose a 125% tariff on U.S. goods from Saturday, up from the previously announced 84%, after U.S. President Donald Trump raised tariffs against China to 145% on Thursday.

Trump this week paused heavy tariffs against dozens of trading partners, but a prolonged dispute between the world's two biggest economies is likely to reduce global trade volumes and disrupt trading routes, weighing on global economic growth and reducing demand for oil.

Source: Reuters

Related News

OIL

Oil Continues Gains as Lower Russian Flows Offset Trump Tar...

Oil extended its biggest gain in nearly four weeks as tighter Russian crude supplies overshadowed concerns about the impact o...

11 February 2025 14:35
OIL

Oil Drops as Dollar Surges After Rate Cut

Oil fell as expectations for fewer interest-rate cuts by the Federal Reserve next year boosted the dollar. February West Te...

19 December 2024 07:12
OIL

Oil Drops as Signs of Tariff Ease Fuel Uncertainty

Oil was pushed lower after U.S. Commerce Secretary Howard Lutnick said the Trump administration could lift some tariffs on Me...

5 March 2025 07:48
OIL

Oil Drops as Signs of Tariff Reductions Fuel Uncertainty

Oil was pushed lower after U.S. Commerce Secretary Howard Lutnick said the Trump administration could lift some tariffs on Me...

5 March 2025 06:46
BIAS23.com NM23 Ai