"Crude oil prices are impacted by economic uncertainties including fears of a U.S. recession, which lowers demand expectations and places pressure on market sentiment."
"The ongoing economic and geopolitical risks continue to create a fragile oil market, as any significant slowdown in global growth could further suppress crude demand."
Crude oil futures are slightly higher yet remain close to multi-year lows, faced with economic uncertainties that could dampen demand. Fears of a U.S. recession, stock market weaknesses, and tariff concerns regarding China contribute to market pessimism. These factors foster a bearish sentiment, as the possibility of slowed global growth could significantly reduce crude demand. Supply dynamics also threaten price stability; record U.S. production and OPEC+ plans to boost output might exceed demand capacity, risking further price declines, especially if geopolitical tensions ease, potentially flooding the market with excess supply.
Read at London Business News | Londonlovesbusiness.com
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