- WTI crude falls near $60/Bbl after volatile session
- Oil prices dropped sharply following a brief relief rally on Wednesday, as market sentiment remains under pressure from softening demand and rising OPEC+ production
- Persistent uncertainty and the most severe tariffs since the 1930s continue to weigh on the outlook
- Analysts expect prices to resume their downward trajectory once the optimism fades, driven by ongoing demand-side risks and concerns over China’s economic slowdown
- Carlyle’s CSO: Commodities “in the crosshairs” of trade war (Bloomberg)
- Jeff Currie, Chief Strategy Officer at Carlyle, warns that the US shale sector is highly price-sensitive and will respond quickly to falling prices
- A drop below $55/Bbl could shut down even Permian production, while prices under $65/Bbl would curb output across broader shale regions
- Currie noted that China’s peak oil trade occurred in 2019, as the country increasingly distances itself from US crude to avoid trade-related volatility
- US crude exports to China fall to near-zero following tariff surge (Bloomberg)
- US oil shipments to China have sharply declined through much of 2025 following a new wave of tariffs
- These flows now represent only about 1% of China’s total crude imports in early 2025 (Vortexa)
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