Warnings of a recession have multiplied at bacterial-growth speed, and now even the Energy Information Administration at the U.S. Department of Energy is warning of the negative impact that the tariff war would have on oil demand. The basis of that argument is sound—which is why Trump took all the forecasters by surprise when he instituted a 90-day pause on the massive tariffs he had announced earlier in the week in anticipation of their eagerness to negotiate new trade deals with the United States. The oil market these days runs on perceptions rather than hard data, and the perception is that the tariff war is killing oil demand, so the outlook for oil demand is dimming.
Author: Irina Slav
Published at: 2025-04-13 23:00:00
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