ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home Energy

Oil Prices Edge Lower on Tariff Worries, OPEC+ Output Hike

Victoria Emeto by Victoria Emeto
July 8, 2025
in Energy
0
Oil Prices Flat as Market Juggles OPEC+ Supply Prospects and U.S. Inventory Data

Oil prices retreated on Tuesday, easing after nearly 2% gains in the previous session, as markets responded to fresh U.S. tariff announcements and a higher-than-expected August output hike by OPEC+.

By 0330 GMT, Brent crude futures slipped 22 cents, or 0.3%, to $69.36 per barrel, while U.S. West Texas Intermediate (WTI) dropped 27 cents, or 0.4%, to $67.66 per barrel.

Market sentiment shifted after U.S. President Donald Trump signalled that sharply higher tariffs would begin August 1, affecting major oil trade partners like South Korea and Japan, as well as smaller exporters including Serbia, Thailand, and Tunisia. Although Trump later softened his position, stating the deadline was “not 100% firm,” the uncertainty injected fresh volatility into oil markets.

Analysts say the tariff tensions have raised concerns over a potential slowdown in global economic growth, which could weaken oil demand in the coming months.

Meanwhile, OPEC+ surprised traders with a larger-than-expected production hike for August, adding further downward pressure on prices amid fears of oversupply.

Despite these headwinds, some indicators show current demand remains robust. In the U.S., the world’s largest oil consumer, demand received a boost from holiday travel. According to travel group AAA, a record 72.2 million Americans were projected to travel more than 50 miles for Fourth of July vacations.

This strong domestic travel activity has helped cushion prices from steeper declines, but analysts warn that geopolitical risks and economic uncertainty will likely continue to drive short-term price movements.

Tags: #EnergyMarket#OilPrices#OPECPlus#USTariffs
Previous Post

World Bank Again Classifies Nigeria as Lower-Middle Income Economy in 2025/2026 Report

Next Post

Asian Markets Rebound as Trump Signals Openness to Trade Talks

Victoria Emeto

Victoria Emeto

Next Post
Asian Markets Rebound as Trump Signals Openness to Trade Talks

Asian Markets Rebound as Trump Signals Openness to Trade Talks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FMDQ Exchange Admits Flour Mills of Nigeria’s ₦30.00bn Commercial Paper Notes

FMDQ Admits TSL SPV PLC ₦12.00 billion Series 1 Guaranteed Fixed Rate Infrastructure Bond to its Platform

March 11, 2021
NCAC inaugurates Creative Industry Sub-Committees

NCAC inaugurates Creative Industry Sub-Committees

September 20, 2020
#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

#EndSARS: Protesters receive heavy gun fire at Lekki toll gate

October 21, 2020
SMEs in Nigeria must be ready to grow with or without Government …Evans Edozie, C.E.O., Cospharma Nig. Ltd.

SMEs in Nigeria must be ready to grow with or without Government …Evans Edozie, C.E.O., Cospharma Nig. Ltd.

September 21, 2020
‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25
Goldlink’s restructures board

Goldlink’s restructures board

10
Airtel Africa Plc gets admitted to the NSE Main Board

Airtel Africa Plc gets admitted to the NSE Main Board

6
Stallion Tank Farm resumes operations

Stallion Tank Farm resumes operations

3
Tinubu Pledges Increased Funding for Key Sectors to Foster Inclusive Development

Tinubu Pledges Increased Funding for Key Sectors to Foster Inclusive Development

July 8, 2025
Banks Outline Exit Plans from CBN Forbearance as Market Reacts to Dividend Ban

CBN Directs Banks to Submit Capital Restoration Plans as Forbearance Regime Winds Down

July 8, 2025
Nigeria, Netherlands Begin Renegotiation of Double Taxation Agreement

Nigeria, Netherlands Begin Renegotiation of Double Taxation Agreement

July 8, 2025
IMF Flags Weak Social Safety Net in Nigeria Amid Ongoing Reforms

IMF Flags Weak Social Safety Net in Nigeria Amid Ongoing Reforms

July 8, 2025
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • Agriculture
  • AI
  • Art
  • Arts
  • Aviation
  • Banking
  • Blockchain
  • Business 360 Weekly
  • Business news
  • Business Travels
  • Capital Market
  • CHINA
  • Corporate
  • Cryptocurrency
  • Destination Business
  • East Africa
  • Economy
  • Education
  • Electric Vehicles
  • Electricty
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • EV
  • Fashion
  • Fashion
  • Feature
  • Finance
  • Gas
  • Global Economy
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Japan
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • Mortgage
  • News
  • NGOs
  • Oil
  • Petrol
  • Political Economy
  • politics
  • Real Estate
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • South Africa
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tax
  • Tech
  • Tourism
  • Transportation
  • UK
  • Uncategorized
  • US
  • World

Recent News

Tinubu Pledges Increased Funding for Key Sectors to Foster Inclusive Development

Tinubu Pledges Increased Funding for Key Sectors to Foster Inclusive Development

July 8, 2025
Banks Outline Exit Plans from CBN Forbearance as Market Reacts to Dividend Ban

CBN Directs Banks to Submit Capital Restoration Plans as Forbearance Regime Winds Down

July 8, 2025
  • Africa
  • World
  • Our Shows

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!