Oil stocks fall due to global recession risk from Trump tariffs, impacting fuel demand

From StockTwits: 2025-04-03 04:52:00

Fitch Ratings warns of global recession risk due to new tariffs announced by Trump, causing oil stocks to fall in extended trading. Trump imposed minimum 10% tariff on most imports, raising concerns over trade war impact on fuel demand. Analysts predict negative effects on economic growth and oil demand growth. Energy products like crude oil exempt from tariffs. Energy sector ETFs XLE and VDE drop over 2%. Retail sentiment on Stocktwits turns bearish. Despite concerns, one trader sees potential rotation to energy sector. Major oil companies like CVX, XOM, COP, and OXY see stock prices fall.



Read more at StockTwits: Oil Stocks Slip On Recession Worries After Trump Tariffs