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Oil sinks to lowest in almost two years

  • April 4, 2025
  • -FXnews

It’s hard to find reasons to be optimistic about the oil market at the moment. The macro backdrop is such a tough one to go up against with OPEC+ increasing production in a time when Trump wants lower oil prices and heightened risks of a global economic slowdown. Tariff fears and a risk off mood in broader markets are the ones driving the latter this week.

And all of this combined is putting oil prices on the brink of a stronger collapse from a technical standpoint.

The latest drop in WTI crude now sees price fall to test support from the 2023 lows

Oil sinks to lowest in almost two years

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