{"id":53545,"date":"2025-04-16T21:04:59","date_gmt":"2025-04-16T21:04:59","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions"},"modified":"2025-05-08T05:48:30","modified_gmt":"2025-05-08T05:48:30","slug":"oil-prices-slide-amid-us-china-trade-tensions","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions","title":{"rendered":"Oil prices slide amid US-China trade tensions"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Oil prices dropped on Wednesday as markets priced in the uncertainty from changing US tariff policies and escalating US-China trade tensions.<\/p>\n

The international benchmark, Brent crude, decreased by around 1.47%, trading at $63.44 per barrel at 09.42 am local time (0642GMT), down from $64.38 at the previous session’s close.<\/p>\n

US benchmark West Texas Intermediate (WTI) decreased by 1.58%, settling at $60.06 per barrel, compared to its prior session close of $61.03.<\/p>\n

The tariff-driven standoff between the world’s two largest economies remains a top global concern.<\/p>\n

At a press briefing, White House Press Secretary Karoline Leavitt said President Donald Trump was open to a trade deal with China. “The ball is in China’s court: China needs to make a deal with us, we don’t have to make a deal with them,” Leavitt stated.<\/p>\n

She added that the US was in talks with several countries that have not retaliated with tariffs, with new trade agreements expected to be announced soon.<\/p>\n

China had responded to the US tariff hikes with identical measures. As a result of the tariff showdown, the US raised tariffs on Chinese goods to 145%, while China raised tariffs on American goods to 125%.<\/p>\n

Although the US delayed tariffs on other countries for 90 days, tariffs on China took immediate effect. Markets continue to react to each new development in the trade dispute.<\/p>\n

In a filing to the Securities and Exchange Commission, chipmaker Nvidia revealed that the US now requires an export license for shipping its H20 chips to China and certain other countries.<\/p>\n

The company estimates the restrictions could cost $5.5 billion in revenue.<\/p>\n

Reports also emerged suggesting China may have ordered its airlines to halt purchases of Boeing jets, further deepening trade war fears. The US-China trade war has dampened global oil demand expectations.<\/p>\n

The International Energy Agency (IEA) cut its 2025 global oil demand growth forecast by 300,000 barrels per day (bpd), now projecting a rise of 726,000 bpd. Last month, the IEA expected a 1.03 million bpd increase.<\/p>\n

OPEC also revised down its global demand growth estimate by 150,000 bpd.<\/p>\n

Meanwhile, the American Petroleum Institute reported an unexpected rise in US crude inventories\u2014up by 2.4 million barrels last week. Markets had expected a decline of 1.68 million barrels.<\/p>\n

The surprise build in stocks has reinforced demand concerns in the world’s largest oil-consuming nation, contributing to downward pressure on prices.<\/p>\n

The US Energy Information Administration is set to release official inventory data later today.<\/p>\n

For More News And Analysis About Mauritius<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Oil prices dropped on Wednesday as markets priced in the uncertainty from changing US tariff policies and escalating US-China trade tensions. The international benchmark, Brent crude, decreased by around 1.47%, trading at $63.44 per barrel at 09.42 am local time (0642GMT), down from $64.38 at the previous session’s close. US benchmark West […]<\/p>\n","protected":false},"author":84,"featured_media":53544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[2720,241,2764,2721,2825],"class_list":["post-53545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-brent-crude","tag-mauritius","tag-oil-prices","tag-west-texas-intermediate","tag-wti"],"yoast_head":"\nOil prices slide amid US-China trade tensions - Mauritius<\/title>\n<meta name=\"description\" content=\"Oil prices dropped on Wednesday as markets priced in the uncertainty from changing US tariff policies and escalating US- ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil prices slide amid US-China trade tensions\" \/>\n<meta property=\"og:description\" content=\"Oil prices dropped on Wednesday as markets priced in the uncertainty from changing US tariff policies and escalating US- ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-16T21:04:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-08T05:48:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2025\/04\/sm_1744823302.406087.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil prices slide amid US-China trade tensions\",\"datePublished\":\"2025-04-16T21:04:59+00:00\",\"dateModified\":\"2025-05-08T05:48:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions\"},\"wordCount\":414,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2025\/04\/sm_1744823302.406087.jpg\",\"keywords\":[\"Brent crude\",\"Mauritius\",\"oil prices\",\"West Texas Intermediate\",\"WTI\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-slide-amid-us-china-trade-tensions\",\"name\":\"Oil prices slide amid US-China trade tensions - 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