From Investing.com: 2025-03-06 01:33:00

Energy prices are struggling due to demand concerns, but uncertainty over tariffs is helping boost prices. Brent crude fell below $70/bbl, with ICE falling 2.5%. US producers are finding it hard to drill profitably with WTI below $67/bbl. Weekly US inventory data showed a bearish trend with a 3.61m barrel increase in crude oil inventories.

European energy prices closed lower with TTF settling 4.5% lower. Investment funds reduced their position in TTF, and the European Commission delayed plans to phase out Russian fossil fuels. Meanwhile, metals saw a surge as Comex copper futures rose over 5% after President Trump proposed a 25% tariff on copper imports. China pledged production cuts in the steel and oil industry to improve profitability and reduce pollution.



Read more at Investing.com: Brent Oil Prices Slide Below $70 Amid Demand Concerns