Reported 4 days ago
Oil prices saw a slight rebound on Friday, settling at $61.50 a barrel, yet marked their second consecutive weekly decline due to the ongoing trade war between the US and China, which has heightened market volatility. The conflict has led to a significant drop in crude demand forecasts by the US Energy Information Administration, compounded by a swift increase in OPEC+ output. As tariffs escalate, with China raising its tariffs on US goods to 125%, the market faces persistent uncertainty and pressure on oil prices.
Source: YAHOO