Oil Prices Fluctuate as Tariff Concerns and Economic Uncertainty Loom

Weaker dollar supports crude prices, but fears of a U.S. recession and global trade tensions weigh on gains.

Oil prices have shown mixed movement, with Brent crude and West Texas Intermediate fluctuating due to competing economic factors.
A weaker U.S. dollar has provided short-term support for oil, making it cheaper for buyers using other currencies.
Concerns over escalating tariff policies, including potential new U.S. tariffs on EU goods, have raised fears of slower global economic growth and reduced energy demand.
U.S. crude stockpiles rose less than expected last week, while gasoline inventories saw a larger-than-anticipated drop, signaling potential seasonal demand increases.
OPEC+ reported a significant rise in February crude output, led by Kazakhstan, but plans to increase production in April remain under close market scrutiny.