US EditionOil prices jump about 4% on US-China tariff reductions
- The US and China announced a 90-day agreement on sharp tariff reductions on May 12, 2025, leading to a roughly 4% jump in oil prices.
- This agreement follows weekend talks in Geneva aiming to ease trade tensions, though tariffs on cars, steel, aluminum, and pharmaceuticals remain unchanged.
- Oil benchmarks Brent and WTI rose over 4%, reaching about $66 and $63 per barrel respectively, as investors reacted positively to improved trade relations and market optimism.
- Investec's Callum Macpherson stated, "This is a start at least" and noted higher oil markets following the trade talks, while analysts caution that gains might be limited by rising supply.
- The tariff reductions may improve demand outlooks for oil by limiting the trade war's economic fallout, but ongoing supply increases and unresolved tariffs temper expectations.
15 Articles
15 Articles
Oil Prices Rally on Trade Talk Breakthrough
Oil prices have risen significantly due to a breakthrough in US-China trade negotiations, including tariff reductions, which has eased concerns about trade tensions and boosted expectations for global economic growth.
Oil retreats from two-week high
Shafaq News/ Oil prices retreated on Tuesday from a two-week high on concerns about rising supplies, despite earlier optimism about a pause in the US-China trade war after the two countries temporarily reduced tariffs. Brent crude futures fell 22 cents, or 0.3%, to $64.74 a barrel by 02:48 GMT. US West Texas Intermediate (WTI) crude fell 18 cents, or 0.3%, to $61.77. The US and China agreed to drastically reduce tariffs for at least 90 days, sen…
Oil Prices Rebound on US-China Truce - Mansfield Energy
Crude oil prices are climbing this week as markets digest a series of major geopolitical and economic developments. The most significant driver is the recent de-escalation of the U.S.-China trade war, which helped lift market sentiment and temporarily reduced fears of a global recession. At the same time, rising crude exports from OPEC+ nations and a mixed demand outlook are keeping price gains in check. This morning, Brent crude is trading arou…
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