Brent down 3% after hitting 3-year low on US crude build, OPEC+ hike, US tariffs

By X-blogger - on March 6, 2025

Global benchmark Brent was down nearly 3%, recovering slightly from a three-year low hit earlier in the session, after U.S. crude oil stockpiles posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to increase output in April and U.S. tariffs on Canada, China and Mexico.

After a 4.0% dip during the last session, the Oil-Dollar pair closed with a 2.5% drop. The ROC is giving a negative signal.
Support: 61.942 | Resistance: 70.402

Write a comment

Your email address will not be published. Required fields are marked *

No comments yet, Be the first!
Special Offer
First Deposit Bonus

First Deposit Bonus | Phone Verification | First Trade on us | Account Verification


Cash Back Bonus

As a valued client, you can earn 'mileage points', from your trading volume.


Become an Xtrade VIP

Become an Xtrade VIP. For our VIP members, we go the extra mile with.