Oil prices declined during the European trading session due to increased USA Crude Oil Product inventories and concerns about the impact of trade tariffs. The US Energy Information Administration (EIA) reported that USA Crude Oil Product inventories rose by 3.463 million barrels last week, significantly higher than the increase of 1.1 million barrels expected by Analysts. Meanwhile, the market is weighing the potential impact of USA tariffs on imports from Canada and Mexico on Global growth and demand. Analysts from Saxo Bank stated that crude oil prices consistently dance to the rhythm of Trump's tariff 'orchestra.' Additionally, supply concerns in Libya have eased, which has also put pressure on oil prices.
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油价因美国库存增加和关税担忧而下跌
Oil prices fell due to increased USA inventories and tariff concerns.
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