Oil Broadly Stable After Cuts to Demand Outlook -- Market Talk

Dow Jones04-15

0921 GMT - Oil prices are broadly steady after the IEA and OPEC lowered their oil-demand growth forecasts, saying escalating trade tensions are expected to weigh on the global economy. Brent crude and WTI are both down 0.1% at $64.81 and $61.46 a barrel, respectively, after last week's market turmoil pushed prices to a four-year low. The IEA sharply cut its demand estimates, while OPEC remains more optimistic, but both acknowledged sweeping U.S. tariffs have hurt consumption. "The uncertainty is generating significant headwinds for global growth and, as a result, oil demand," ING analysts say. Traders will now be closely watching the next phase in global trade policies following U.S. President Trump's latest tariff exemptions, as well as U.S.-Iran talks set to be held on Saturday. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

April 15, 2025 05:21 ET (09:21 GMT)

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The IEA sharply cut its demand estimates, while OPEC remains more optimistic, but both acknowledged sweeping U.S. tariffs have hurt consumption. \"The uncertainty is generating significant headwinds for global growth and, as a result, oil demand,\" ING analysts say. Traders will now be closely watching the next phase in global trade policies following U.S. President Trump's latest tariff exemptions, as well as U.S.-Iran talks set to be held on Saturday. 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