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Crude Caught in Crossfire of OPEC+ Discord and Tariff Shocks [Yahoo! Finance]
Last chevron corporation earnings: 5/1 06:45 am
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US:NYSE Investor Relations: chevron.com/investors
President Donald Trump announced that China tariffs will come down substantially, with another potential boost coming from a Wednesday Reuters report citing unnamed sources as saying talks to lead to significant tariff reductions. “ It will come down substantially, but it won't be zero ,” Trump said on Tuesday, echoing earlier remarks by U.S. Treasury Secretary Scott Bessent. Less than a day later, reports emerged that the administration is considering reducing tariffs on Chinese imports from to as low as 50% if talks with Beijing are successful. But while the stock markets are enjoying a reprieve, oil prices are not. On Wednesday at 2:25 p.m. ET, Brent crude for June delivery was down 2.2%, only recouping a few tenths of a percentage point on the tariff optimism. In a Tuesday report, commodity analysts at Standard Chartered warned that the ongoing tariff snafu has unsettled oil markets, creating negativity about demand prospects and weighing heavily on oil market sentiment. Vol
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