From Financial Modeling Prep: 2025-06-04 07:49:00

Oil prices dipped in Asia due to concerns over rising OPEC+ output and U.S.-China trade tensions, despite fears of supply shortages from Canadian wildfires and stalled Iran-U.S. talks. Brent crude fell to $65.46 per barrel, while WTI dropped to $63.22, after a brief 2% gain.

Supply worries from Canadian wildfires and Iran’s rejection of a U.S. nuclear deal supported a recent oil price spike, but OPEC+ output increases limited gains. Analysts suggest that markets are struggling to maintain momentum amid these conflicting factors.

Trade tensions between the U.S. and China are dampening risk appetite, with President Trump accusing China of violating tariff agreements. The OECD revised global growth projections downward due to trade war fallout, impacting energy markets and oil demand.

Real-time oil performance can be tracked using the Commodities API, offering live and historical pricing for global energy benchmarks like Brent and WTI. Market volatility is influenced by upcoming economic data releases and geopolitical events.

Oil faces a delicate balance between supply risks and market fundamentals. Traders are navigating geopolitical uncertainties and macroeconomic pressures, anticipating rangebound volatility until significant policy changes impact tariffs, production limits, or diplomatic relations.



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