Commodities: Oil Edges Lower On Weakening Demand Concerns

Apr. 29, 2025 5:05 AM ET, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
(5min)

Summary

  • Oil prices edged lower in the early trading session today amid concerns that the US-led trade war will hurt energy demand. ICE Brent lost almost 1% this morning, with prices moving back towards $65/bbl.
  • Meanwhile, downside risks for oil prices continue to persist as OPEC+ plans to revive production in its upcoming meeting scheduled for next week.
  • Gold edged lower this morning, with spot prices falling almost 1% as market participants continue to focus on new developments in the ongoing US trade negotiations. Meanwhile, a decline in US Treasury yields, along with weakness in the dollar, further weighed on gold prices.

Oil barrels and gold bars on black background 3D render

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By Ewa Manthey, Warren Patterson

Energy - Oil slides on weakening demand concerns

Oil prices edged lower in the early trading session today amid concerns that the US-led trade war will hurt energy demand, continuing the declines seen towards

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