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Oil: falling prices

05/03/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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Due to plans by major producers to increase production in April, combined with concerns that U.S. tariffs on Canada, Mexico and China would slow economic growth and affect fuel demand, oil prices fell for the third time on Wednesday.

Brent futures fell by 24 cents, or 0.3%, to $70.80 per barrel at 05:00 GMT. American West Texas Intermediate (WTI) crude fell 58 cents, or 0.9%, to $67.68 per barrel. According to Yeap Jun Rong, market strategist at IG, “OPEC+ remains on track to increase production in April, while optimism about a potential resolution of the Ukraine-Russia conflict increases the prospects for Russian supplies to return to the

market.”
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