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2025-10-30 15:26:12
[Limited Changes in International Oil Prices After Trump Lowered Tariffs on China] 1. Oil prices fluctuated narrowly on Thursday, despite Trump's announcement of lowering tariffs on China from 57% to 47%, easing concerns about global economic growth. WTI crude is currently trading around $60.05 per barrel, down about 0.7%, while Brent crude is trading around $63.90 per barrel, down about 0.45%. Both oils rose about 0.3% in the previous trading day, but are expected to decline by more than 3% for the third consecutive month in October. 2. Analysts say that the easing of tariffs boosted market confidence and stimulated expectations for energy demand; Brent crude held support at $60 and $58, and may rebound in the short term, but its upside is limited to $72, resulting in range-bound trading. 3. The Federal Reserve cut interest rates as expected and hinted that this might be the last rate cut of the year, shifting policy towards supporting economic growth, which is beneficial to commodities; US crude oil inventories fell sharply by 6.86 million barrels last week, far exceeding expectations, also supporting the previous day's oil price increase. 4. Despite positive factors, oil prices remain under pressure; investors are focused on the OPEC+ meeting on November 2nd, which may announce a production increase of 137,000 barrels per day in December, further impacting the supply balance.
