Oil Slips to Lowest in 10 Sessions on China, U.S. Concerns: Crude oil prices fell sharply during Wednesday morning trading,
As investor concerns grew over weakening global demand,
especially amid signs of a slowing Chinese economy and anticipation of critical U.S. economic data.
WTI (West Texas Intermediate) crude dropped to its lowest level in 12 sessions,
Falling below $60 per barrel, Brent crude for June delivery declined to $62.45, down by 1.31%.

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The drop followed weak data from China, where the Purchasing Managers’ Index (PMI)
fell to its lowest level in nearly a year and a half.
This sparked fears about the impact of the ongoing trade war
with the United States on the world’s second-largest oil consumer.
As the index re-entered contraction territory,
concerns about a Chinese economic slowdown—and its effect on global oil demand—intensified.

Investors are also awaiting key economic releases from the United States, including Q1 GDP data,
the Personal Consumption Expenditures (PCE) index, and March figures for personal income and spending.
In addition, weekly U.S. crude oil inventory numbers are expected to provide further
insight into domestic demand trends in the world’s largest oil consumer.

Oil prices have sharply declined in April, the steepest decline since November 2021
With losses reaching around 15.94%.
This is mainly due to escalating trade tensions between
Washington and Beijing, and the lack of signs of a near-term resolution.

Oil Slips to Lowest in 10 Sessions on China, U.S. Concerns

oil-slips-to-lowest-in-10-sessions-on-china-u-s-concerns

Oil Slips to Lowest in 10 Sessions on China, U.S. Concerns

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