{"id":1082,"date":"2025-04-04T12:52:21","date_gmt":"2025-04-04T12:52:21","guid":{"rendered":"https:\/\/www.insuracarelife.com\/blog\/slumping-oil-prices-reflect-intensifying-economic-worries\/"},"modified":"2025-04-04T12:52:21","modified_gmt":"2025-04-04T12:52:21","slug":"slumping-oil-prices-reflect-intensifying-economic-worries","status":"publish","type":"post","link":"https:\/\/www.insuracarelife.com\/blog\/slumping-oil-prices-reflect-intensifying-economic-worries\/","title":{"rendered":"Slumping Oil Prices Reflect Intensifying Economic Worries"},"content":{"rendered":"<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Oil prices continued to fall on Friday, extending Thursday\u2019s sharp drop. Brent crude, the international benchmark, traded at its lowest level in more than three years, below $65 a barrel, a fall of almost 8 percent.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Fears that President Trump\u2019s tariffs could slash global economic growth \u2014 and demand for oil as a result \u2014 were weighing on the market, analysts said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">China\u2019s announcement on Friday of 34 percent retaliatory tariffs against the United States has further stoked worries that demand for oil and other commodities could be throttled by the trade turmoil.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Thursday\u2019s surprise decision by a Saudi Arabia-led group of countries in the OPEC Plus cartel to accelerate planned production increases has added to the downward pressure. Essentially, the market is worried about a bearish mixture of tariffs weakening demand, compounded by growing pressure from oil-producing countries like Iraq and Kazakhstan to add to supplies.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">In a note to clients, analysts at Morgan Stanley said that in a recession \u2014 which is a looming possibility \u2014 demand growth for oil \u201ctypically falls at least to zero.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices continued to fall on Friday, extending Thursday\u2019s sharp drop. Brent crude, the international benchmark, traded at its lowest level in more than three years, below $65 a barrel, a fall of almost 8 percent. Fears that President Trump\u2019s tariffs could slash global economic growth \u2014 and demand for oil as a result \u2014 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[764,763,760,761,762,759,765],"class_list":["post-1082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-economic","tag-intensifying","tag-oil","tag-prices","tag-reflect","tag-slumping","tag-worries"],"_links":{"self":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/1082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/comments?post=1082"}],"version-history":[{"count":0,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/1082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media\/1083"}],"wp:attachment":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media?parent=1082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/categories?post=1082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/tags?post=1082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}