Oil prices fell sharply, with Brent crude dropping below $65 a barrel, the lowest in over three years. Concerns about President Trump's tariffs potentially hurting global economic growth and oil demand are dominating market sentiment. Additionally, China's aggressive tariffs on the U.S. and OPEC Plus's decision to increase production are further complicating the landscape. Analysts from Morgan Stanley highlight that in the event of a recession, oil demand growth could come to a complete halt, exacerbating the bearish market outlook.
Oil prices continue to decline, with Brent crude falling to its lowest level in over three years—a reflection of economic concerns linked to tariffs and demand.
Analysts note that recent tariff announcements from China and production increases within OPEC Plus are intensifying fears of reduced global oil demand.
Morgan Stanley analysts warn of a potential recession leading to a complete halt in oil demand growth, further compounding the market's bearish outlook.
The interplay of geopolitical tensions from trade tariffs and increased oil supply has created a troubling environment for oil prices and market stability.
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