8 days ago
Oil Prices Tick Up but Demand Concerns Still Weigh
Oil prices were rising, with Brent crude and WTI both up 0.5% at $65.19 a barrel and $61.84 a barrel, respectively.
Oil prices continued to recover from multi-year lows though Brent remained down 7.7% on month as the market assesses the effects of U.S. President Donald Trump's tariffs on global demand, ANZ Research analysts said in a note.
Oil did recoup some losses after the Trump administration announced a delay to some tariffs, though gains were short-lived and overshadowed by demand concerns amid rising trade tensions, ANZ wrote.
