Uncertainty Is Overshadowing Fundamentals in Oil Markets

Oil market fundamentals appear to have entirely given way to sentiment recently, with Trump's tariff war with China driving prices down.Friday, April 11th, 2025 This week, one may not have noticed that oil markets are still backwardated and that refiners are still buying oil because the general sentiment in oil markets soured to its lowest level in years. Seemingly ceaseless salvos of incremental import tariffs between the US and China frightened the oil markets to such an extent that even Trump’s 90-day delay on implementation…