Oil Slips: WTI Sinks to $61.35 as Trade Uncertainty and OPEC+ Moves Loom

WTI crude futures extended losses for a second consecutive session, slipping to $61.35 as U.S.-China trade negotiations remain deadlocked. market sentiment reflects growing anxiety over a potential global economic slowdown, which could further depress energy demand.

Technical indicators suggest bearish momentum, with WTI breaking below critical support levels. A sustained recovery above $62.00 appears necessary to reverse the downward trajectory. All eyes now turn to the upcoming OPEC+ meeting and geopolitical developments, including U.S.-China trade dynamics and Iran nuclear talks.

Treasury Secretary Scott Bessent’s ambiguous remarks—placing responsibility on China to de-escalate tensions—only compounded market uncertainty. The oil market’s fragility underscores its sensitivity to macroeconomic headwinds and geopolitical maneuvering.