Economy Country January 23, 2025

Oil Prices Decline Amid Economic Uncertainty

Brent crude futures dropped by 23 cents to $78.79, while U.S. West Texas Intermediate fell by 18 cents to $75.26. This marks continuous losses due to uncertainty surrounding proposed tariffs affecting global economic growth and energy demand.


Oil prices fell at the beginning of trading on Thursday. Futures for Brent crude dropped by 23 cents, or 0.3 percent, to $78.79 per barrel, while WTI crude fell by 18 cents, or 0.2 percent, to $75.26 per barrel. In the upcoming session, WTI futures closed at $75.44, while Brent contracts ended at $79. Both indicators broke their fifty-day downward trend.

Continuing its downward trend, oil prices began to decline at the start of trading. The market remains unstable due to uncertainty regarding the new trade agreements proposed by former U.S. President Donald Trump in several countries, affecting global economic growth and energy demand.