Crude Oil ($CRUDE) Commodity Forecast: Up 5.6% Today

What is Crude Oil?

Crude Oil is a highly traded commodity that is essential for various industries, transportation, and energy production. Its price is influenced by global supply and demand dynamics, geopolitical events, and economic indicators.

Why is Crude Oil going up?

CRUDE commodity is up 5.6% on Apr 10, 2025 8:43

• Today's bullish movement in Crude Oil can be attributed to the following factors:
• The de-escalation in trade tensions between the US and other countries, which has eased concerns about a global recession and improved the outlook for energy demand.
• President Trump's decision to suspend reciprocal tariffs for most countries over the next 90 days, calming markets and boosting risk appetite.
• The larger-than-expected draw in gasoline and distillate inventories reported in the latest EIA report, offsetting concerns about rising crude stockpiles.
• OPEC+ officials hinting at potential delays to previously announced production increases, which helped alleviate oversupply worries and supported the rebound in oil prices.

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CRUDE News

WTI Crude Oil Falls Back Below $61

WTI crude oil futures dropped over 2% to below $61 per barrel on Thursday, after a 4.62% gain in the previous session, as escalated trade tensions between the US and China reignited demand concerns. President Trump increased tariffs on China to 125%, just a day after a 104% hike took effect. While he paused new tariffs on other countries for 90 days, the sharp escalation with China, the world’s top oil importer, sparked worries about weaker fuel demand. China raised its tariffs on US goods to 84% and is expected to unveil stimulus measures to support sectors like housing and consumption. Meanwhile, OPEC+ agreed to speed up output increases, raising fears of oversupply. Adding to market uncertainty, the Keystone pipeline from Canada remains shut after a spill in North Dakota, with no restart timeline confirmed.

Crude Oil Rebounds Past $62

WTI crude oil futures rebounded sharply on Wednesday, climbing more than 4% to trade above $62 per barrel as recession fears eased and the outlook for energy demand improved. The recovery followed President Trump’s decision to suspend reciprocal tariffs for most countries over the next 90 days, a move that calmed markets and revived appetite for risk assets. While China remains excluded from the suspension—with tariffs on its exports now raised to 125% in response to its latest round of retaliation—the broader de-escalation in trade tensions helped restore confidence across commodity markets. Further supporting the rally was the latest EIA report which revealed a larger-than-expected draw in gasoline and distillate inventories, helping to offset a modest rise in crude stockpiles. Meanwhile, remarks from OPEC+ officials hinting at potential delays to previously announced production increases helped temper oversupply concerns and reinforced the rebound in prices.

Oil Falls to 4-Year Low

WTI crude oil futures tumbled 6% to below $56 per barrel on Wednesday, their lowest since February 2021, as fears of a global slowdown hit energy markets. The drop came after the US and China escalated their trade war, with President Trump enforcing steep new tariffs on dozens of countries, including a 104% duty on many Chinese imports. In response, China sharply raised its own tariffs on US goods to 84% starting April 10. At the same time, OPEC+ decided to ramp up oil production more quickly than expected, increasing the risk of oversupply. Meanwhile, data from the American Petroleum Institute industry group showed US crude inventories fell by 1.1 million barrels in the week ended April 4, compared with expectations for a build of about 1.4 million barrels.

Oil Drops Further on Tariff Concerns

WTI crude oil futures dropped more than 4% to below $57 per barrel on Wednesday, extending losses to a fifth consecutive session amid fears that U.S. tariffs might lead to a global recession and hurt demand. President Donald Trump’s outsized tariffs will go into effect later today, including an expected 104% tariff on China, the world’s top oil importer. While the White House has expressed a willingness to negotiate with trade partners, China has vowed to “fight to the end,” signaling a potentially prolonged trade dispute. Since April 2, WTI has shed around 20% of its value, pressured by a combination of weakening demand outlooks and rising production levels. Elsewhere, API data showed US crude oil inventories fell by 1.1 million barrels last week, reversing the previous week’s 6-million-barrel build.

Crude Oil Falls to 4-Year Low

WTI crude oil futures reversed earlier gains to fall over 3% to below $59 per barrel on Tuesday, marking a four-year low, as President Trump confirmed tariffs on China would rise to 104% starting Wednesday, raising concerns of a global recession. While hopes briefly surged on reports that the U.S. might reduce or eliminate tariffs with certain countries, including South Korea, the lack of progress in broader trade talks and escalating tariffs led markets to reassess the global demand outlook. White House Press Secretary Leavitt reaffirmed the administration’s firm stance on tariffs, citing national security concerns. The pullback in oil prices reflects skepticism about near-term de-escalation, with investors cautious about the trade war’s impact on global growth and energy demand. Further pressure came from OPEC+’s planned output increase for May, Saudi Arabia’s price cuts, and rising geopolitical tensions, including Trump’s comments on direct talks with Iran.

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Crude Oil Price History

03.03.2025 - CRUDE Commodity was down 5.1%

• The decrease in Crude Oil prices can be linked to the growing trade tensions following an announcement of increased tariffs by President Trump. This has sparked worries about the demand for global energy.
• A notable unexpected increase in US crude inventories, mainly due to a rise in Canadian imports, signaled a possibility of oversupply in the market, further contributing to the bearish trend.
• Russia's action of imposing stricter export restrictions by halting loadings at key ports has added complexity to the global supply projections, pushing oil prices down.
• Investors are paying close attention to the upcoming OPEC+ meeting for clarity on global supply forecasts, as the market remains volatile due to uncertainties in trade and supply.

03.03.2025 - CRUDE Commodity was down 7.2%

• Oil prices dropped by over 6% due to OPEC+ countries increasing oil production by a significant margin, causing oversupply concerns and driving prices down.
• President Trump's new tariffs raised fears of a global trade war, which could dampen economic growth and reduce fuel demand, further pushing oil prices lower.
• A surge in US crude inventories, fueled by increased Canadian imports, contributed to the bearish sentiment and heightened concerns about oversupply.
• Escalating trade disputes, geopolitical tensions, and supply uncertainties continue to make the oil market volatile, prompting caution among investors who are awaiting insights from the upcoming OPEC+ meeting.

10.03.2025 - CRUDE Commodity was up 5.6%

• Today's bullish movement in Crude Oil can be attributed to the following factors:
• The de-escalation in trade tensions between the US and other countries, which has eased concerns about a global recession and improved the outlook for energy demand.
• President Trump's decision to suspend reciprocal tariffs for most countries over the next 90 days, calming markets and boosting risk appetite.
• The larger-than-expected draw in gasoline and distillate inventories reported in the latest EIA report, offsetting concerns about rising crude stockpiles.
• OPEC+ officials hinting at potential delays to previously announced production increases, which helped alleviate oversupply worries and supported the rebound in oil prices.

04.03.2025 - CRUDE Commodity was down 5.5%

• Crude Oil hit a 4-week low of $65.76 per barrel, marking a 0.71% loss over the past 4 weeks and a 24.25% decrease in the last 12 months.
• The bearish trend was intensified by an unexpected announcement of an output hike by eight countries, leading to a more than planned increase in production, causing a 6% drop in oil prices.
• An announcement of new tariffs, sparking fears of a global trade war and potential economic slowdown, further contributed to the decline in oil prices.
• Additionally, higher-than-expected US tariffs and concerns about escalating trade disputes dampening global energy demand added to the negative sentiment in the oil market.

09.03.2025 - CRUDE Commodity was down 8.8%

• Crude oil experienced a strong bearish movement today, dropping significantly in value.
• The market movement can be attributed to escalating trade tensions between major economies, resulting in fears of reduced energy demand and a global economic slowdown.
• Additionally, oil production increased at a faster pace than expected, leading to concerns about oversupply in the market.
• The combination of weakening demand outlooks, rising production levels, and geopolitical uncertainties has contributed to the downward pressure on crude oil prices.

09.03.2025 - CRUDE Commodity was up 6.0%

• The increase in crude oil prices was influenced by reduced recession fears and a brighter energy demand outlook.
• President Trump's announcement of suspending reciprocal tariffs for most countries for 90 days eased market concerns and boosted risk appetite, contributing to the oil price surge.
• Moreover, a more significant than anticipated decline in gasoline and distillate inventories, along with indications of potential delays in OPEC+ production hikes, helped counter oversupply worries and added to the rise in oil prices.
• Overall, the optimistic market sentiment, stemming from improved trade relations and supply-demand factors, drove the robust bullish movement in crude oil prices today.

09.03.2025 - CRUDE Commodity was down 6.3%

• Crude Oil prices declined significantly due to fears of a global recession linked to escalating U.S.-China trade tensions, with a confirmed increase in tariffs on Chinese imports.
• Market sentiment was further affected by doubts about a trade war de-escalation, as reports of potential tariff delays were proven false, leading to increased volatility and downward pressure on oil prices.
• Factors such as OPEC+'s planned output increase, Saudi Arabia's price cuts, and rising geopolitical tensions, including talks with Iran, contributed to the negative outlook for Crude Oil prices.
• Uncertainty surrounding the trade war and its potential impact on global growth and energy demand continues to impact investor confidence, pushing Crude Oil to its lowest levels in years.

08.03.2025 - CRUDE Commodity was down 5.6%

• Crude oil prices experienced a significant bearish movement, dropping to a 4-year low, primarily driven by escalating trade tensions between the U.S. and China.
• President Trump's confirmation of increased tariffs on China, along with the threat of additional tariffs, raised concerns about a global recession and dampened expectations for energy demand.
• The market sentiment was further weakened by OPEC+'s planned output increase, Saudi Arabia's price cuts, and rising geopolitical tensions, contributing to the downward pressure on oil prices.
• The lack of progress in trade talks, coupled with fears of a deepening trade war and its potential impact on global growth, led investors to reassess the energy demand outlook, resulting in the bearish movement of crude oil prices.

04.03.2025 - CRUDE Commodity was down 6.2%

• Crude oil prices plunged to a 3-year low of $62 per barrel, the lowest level since August 2021, primarily due to fears surrounding a global economic slowdown and weakening oil demand, exacerbated by escalating trade tensions.
• The decision by OPEC+ to ramp up output by 411,000 barrels per day in May, significantly higher than the initial target, added to the supply-side pressures, further contributing to the bearish sentiment in the market.
• The impending 34% tariff on U.S. goods by China, along with ongoing trade disputes, continued to weigh heavily on investor sentiment, highlighting the vulnerability of oil prices to geopolitical uncertainties and trade war concerns.
• With oil on track for nearly a 10% decline for the week, marking its steepest drop in six months, the combination of increased supply levels and trade war fears has significantly impacted the commodity's value, pushing it to a 23-month low.

04.03.2025 - CRUDE Commodity was down 8.8%

• Crude Oil prices dropped by over 6% following an unforeseen increase in oil production by OPEC, exceeding the planned amount. This surplus raised concerns about market oversaturation and drove prices down.
• The announcement of new tariffs by President Trump worsened the situation, sparking fears of a global trade conflict that could impact economic growth and reduce fuel demand, contributing to the downward trend in oil prices.
• An unexpected rise in US crude inventories, driven by increased Canadian imports, added to the negative sentiment. This surge raised concerns about excess supply in the market, further pushing prices down.
• Russia's move to tighten export restrictions by suspending loadings from crucial ports also played a part in the pessimistic outlook for oil prices. Investors were awaiting information from the upcoming OPEC+ meeting for clarity on global supply conditions.

04.03.2025 - CRUDE Commodity was down 7.6%

• OPEC+ decision to increase oil production by 411,000 barrels per day in May, far exceeding the initial target, contributed to the oversupply concerns, leading to a sharp decline in oil prices.
• Rising global trade tensions, particularly the announcement of new tariffs by the U.S. and China, added pressure on oil prices as fears of a potential trade war loomed, impacting economic growth and fuel demand outlook.
• The unexpected surge in U.S. crude inventories by 6.2 million barrels, contrary to market expectations, further exacerbated the bearish sentiment in the oil market, reflecting oversupply issues and weakening demand dynamics.
• The combination of increased production levels, trade uncertainties, and inventory build-up painted a bleak picture for Crude Oil, pushing it to a 23-month low and marking a substantial decline over the past weeks, highlighting the challenges faced by the oil industry in the current market environment.

07.03.2025 - CRUDE Commodity was up 5.3%

• The bearish movement in Crude Oil prices can be attributed to the fears surrounding the escalating trade war between major economies, particularly the U.S. and China. The anticipation of a 34% tariff on U.S. goods by China has heightened concerns about a global economic slowdown and weakened oil demand.
• The decision by OPEC+ to increase oil production by 411,000 barrels per day in May, exceeding the initial target, has added to the oversupply concerns in the market, putting further downward pressure on oil prices.
• The combination of rising global trade tensions, increased oil supply, and fears of a recession has created a perfect storm for the decline in Crude Oil prices, leading to the commodity hitting a 23-month low. Investors are closely monitoring these factors to gauge the future direction of the oil market amidst the current uncertainties.