Oil Edges Lower Amid U.S. Tariffs Concerns, Crude Stockpiles Build -- Market Talk

Dow Jones
02-20

0914 GMT - Oil prices ease in early trade amid concerns over U.S. trade tariffs and an industry report showing a buildup in U.S. crude inventories. Brent crude is down 0.4% to $75.74 a barrel, while WTI falls 0.3% to $71.89 a barrel. U.S. President Trump said he is considering tariffs of 25% or more on automobiles, semiconductors and pharmaceutical products--a move that traders fear could hurt the global economy and reduce fuel demand. Meanwhile, U.S. crude stocks rose by 3.34 million barrels last week, according to reports citing figures from the American Petroleum Institute ahead of official data later on Thursday. Crude futures settled higher in the previous trading session, supported by supply uncertainties amid disruptions to Kazakhstan's oil flows and fresh EU sanctions on Russia. (giulia.petroni@wsj.com)

 

(END) Dow Jones Newswires

February 20, 2025 04:14 ET (09:14 GMT)

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