Reported about 11 hours ago
As President Trump's trade policies intensify, concerns over declining global oil demand are growing. His recent tariffs have revived fears that a trade war could reduce crude consumption, particularly affecting major importers like China. This uncertain outlook has led to a significant drop in hedge fund confidence in oil, with many investors reconsidering their positions amid predictions of a market oversupply later this year. Despite some support from North America's driving season, the overall sentiment remains bearish as economic reports loom.
Source: YAHOO