You couldn’t keep up with all the ups and downs on the global markets over the past month.
What with “Liberation Day” on April 2nd, followed swiftly by the newly dubbed “Orange Crash” - the ongoing tumult in global affairs is fairly shaking things out.
On the oil price front, just before April 2nd the sentiment was that oil prices were rebounding on hopes of an Opec+ u-turn on output. That was quickly followed by an absolute rout on the oil futures market - oil prices have consequently slumped to nearer $60 a barrel. Why the slump?
Demand for oil in the future is predicted to slump due to the recessionary implications of the new US tariff regime and attendant mega- maga uncertainty.
