Oil futures fell in Asian trading as traders expressed concerns over the potential impact of the U.S. trade war on energy demand. Brent crude futures dropped over 1%, nearing $67 per barrel, halting a two-day rise, while WTI crude fell below $64 per barrel.
Upcoming economic data may provide insights into how U.S. trade policies are affecting the economy. Additionally, recent U.S.-Iran nuclear talks showed improved consensus on various issues. These discussions, which lasted over three hours, are set to continue in Oman, potentially influencing Iranian oil supply.
This month, oil prices have significantly dropped, reaching a four-year low. Investors worry that tariff conflicts between the U.S. and major trade partners, including China, could severely impact crude demand. Furthermore, OPEC+'s decision to increase oil production faster than expected has heightened concerns about supply surplus.
With some countries still observing the Easter holiday, oil futures trading volumes may be lower than usual.
