COMMODITY
Crude oil futures end lower amid supply concerns
Mar-29-2025

Crude oil futures ended lower on Friday amid concerns over tighter supplies following U.S. sanctions on Iran and Venezuela, as well as recent data showing a significant drop in U.S. crude inventories. Weak economic data raised concerns about economic growth and energy demand. Additionally, U.S. President Donald Trump is expected to announce reciprocal tariffs on a range of imported goods, effective April 2. Moreover, consumer sentiment in the U.S. declined more than previously estimated in March, according to revised data from the University of Michigan. The University reported that its consumer sentiment index for March was revised downward to 57.0 from a preliminary reading of 57.9.

Benchmark crude oil futures for May fell $0.56 or about 0.80% at $69.36 a barrel on the New York Mercantile Exchange. Brent crude for May delivery decreased $0.40 or 0.54% to settle at $73.63 a barrel on London's Intercontinental Exchange.

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