Trade War Concerns Erase 2025 Gains for Oil Prices

Oil prices have given up all of their 2025 gains as trade war concerns continue to weigh on both Brent and WTI.Brent futures have reversed all their 2025 gains and fallen back to exactly where they started this year after global concerns of a potential US-China trade war became the main talking point of the markets. Whilst Donald Trump’s ‘drill baby drill’ policy has been mainly brushed aside by US oil executives meeting in Houston this week, the US President reiterated his enthusiasm for higher US production, adding another bearish…