Oil prices drop due to China tariffs and OPEC+ decision, impacting energy stocks negatively.

From Yahoo Finance: 2025-04-08 10:22:00

Oil futures hit multiyear lows due to China’s response to Trump’s tariffs, causing fear of reduced demand. WTI fell over 7% to $61.99, and Brent crude dropped over 6% to $65.58. Markets reacted strongly to Trump’s levies, with energy stocks dragging down the Dow, S&P 500, and Nasdaq.

China’s 34% tariff on US goods worsened crude losses. OPEC+ decision to increase oil supply three times more than expected starting in May also accelerated the decline. The combination of higher supply and a weaker global economy is pressuring oil prices, leading to market volatility.

EQT Corporation (NYSE:EQT) ranks among the best American energy stocks to buy now, with 88 hedge fund holders. Analysts raised its price target to $60, expecting Q1 2025 results to exceed projections due to robust natural gas pricing. EQT’s position as a top US gas producer favors its performance in current market conditions.

Despite potential in EQT, AI stocks may offer higher returns. An AI stock gained in 2025, while popular AI stocks lost 25%. For a promising AI stock trading at less than 5 times earnings, check out the report on the cheapest AI stock. EQT ranks 3rd on the list of best mid cap growth stocks.



Read more at Yahoo Finance: Is EQT Corporation (EQT) the Best American Energy Stock to Buy Now?