Mid-April xxxx brought a surprising turnaround for crude oil prices, which bounced back after a declining start to the month. Earlier, crude oil prices had dropped to their lowest point in four years, driven by a worsening trade war between the United States and its major trading partners. This fear of declining global crude oil demand and worsening global economy has sent shockwaves throughout the market. However, a xx-day halt on new U.S. tariffs gave traders a moment to revive the sentiments, recovering prices upward and offering a glimmer of stability.
Key Takeaways:
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Crude oil prices rebounded in the third week of April after hitting rock multi-year lows.
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The U.S. hitting pause on fresh tariffs for three months helped lift the crude oil market sentiments.
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The previous crude oil decline was attributed to the April x announcement of sweeping new tariffs.
Looking ahead, as per our...
