Oil falls as OPEC plus plans to raise output, US tariffs hammer sentiment
Reuters) - Oil prices fell for a third session on Wednesday as plans by major producers to raise output in April combined with concerns U.S. tariffs on Canada, Mexico and China will slow economic and fuel demand growth hammered investor sentiment.
The "OPEC+ decision to start increasing production again is a materially bearish development, loosening markets at a time that U.S. macro data are starting to soften," analysts at Citi said in a note. A 25% tariff on all imports from Mexico, a 10% tariff on Canadian energy and a doubling of duties on Chinese goods to 20% came into effect on Tuesday. The Trump administration also imposed 25% tariffs on all other Canadian imports.
OPEC Plus Output Increase US Tariffs Business
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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