0910 GMT - Oil prices slip, with Brent crude down 0.1% at $70.29 a barrel and WTI down 0.2% at $66.91 a barrel. Both benchmarks are down more than 7% on month. Crude oil prices are under pressure as U.S. import tariff concerns raise fears for global economic growth, exacerbated by planned OPEC+ output hikes, Tickmill's Joseph Dahrieh says in a note. President Trump's tariffs imposed and delayed on Mexico and Canada, combined with retaliatory Chinese levies have raised fears of an economic slowdown, damping fuel demand and pushing short-term oil views bearish, Dahrieh says. Saudi Arabia's decision to cut Asian crude prices and deflationary Chinese economic data have compounded economic worries, Dahrieh writes. OPEC+'s planned output hikes from April add to the supply concerns, potentially exacerbating a supply-demand imbalance, he adds. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 05:11 ET (09:11 GMT)
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