COMMODITY
Crude oil futures end significantly lower amid concerns about demand
Apr-05-2025

Crude oil futures ended significantly lower on Friday as the price of crude oil showed another substantial move to the downside during trading. Traders took a cautious stance as concerns of looming global trade war and its impact the fuel demand weighed on crude oil prices after China announced retaliatory tariffs on U.S. goods in reaction to President Donald Trump's new levies. Besides, an increase in supply at a time of slowing demand also contributed to steep drop by crude oil after eight OPEC+ countries agreed Thursday to speed up previously announced increases in crude oil output.

Benchmark crude oil futures for May fell $4.63 or about 6.92% at $62.32 a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased $4.56 or 6.50% to settle at $65.58 a barrel on London's Intercontinental Exchange.


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