Oil Ticks Lower as Traders Weigh U.S. Tariffs, OPEC+ Supply Hikes -- Market Talk

Dow Jones
Jul 08, 2025

0745 GMT - Crude futures edge lower in early trading after gaining nearly 2% in the previous session, as investors weigh President Trump's renewed tariff threats and OPEC+'s large output hike. Brent crude is down 0.1% to $69.55 a barrel, while WTI falls 0.2% to $67.81 a barrel. Trump sent letters to several countries outlining tariff rates they would face unless trade deals are reached by Aug. 1., reigniting concerns over inflation and slower economic growth. However, "memories of past reversals and ongoing negotiations tempered market reaction," analysts at IG say. Meanwhile, the response to OPEC+'s larger-than-expected production increase remains broadly muted as traders say physical markets remain tight due to seasonal demand. (giulia.petroni@wsj.com)

 

(END) Dow Jones Newswires

July 08, 2025 03:45 ET (07:45 GMT)

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