{"id":18066,"date":"2025-03-11T04:22:06","date_gmt":"2025-03-11T04:22:06","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=18066"},"modified":"2025-03-11T04:22:06","modified_gmt":"2025-03-11T04:22:06","slug":"oil-futures-struggle-as-demand-concerns-mount","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-futures-struggle-as-demand-concerns-mount\/","title":{"rendered":"Oil Futures Struggle as Demand Concerns Mount"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2025\/02\/oil6-1024x559.png\" alt=\"\" class=\"wp-image-17017\" \/><\/figure>\n\n\n\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>WTI crude oil futures closed at <strong>$65.89 per barrel<\/strong>, with a session high of <strong>$66.05<\/strong> and a low of <strong>$65.28<\/strong>.<\/li>\n\n\n\n<li>Concerns over U.S. tariffs and weak Chinese economic data pressured crude prices.<\/li>\n\n\n\n<li>OPEC+ plans to increase production in April but may reverse if market imbalances arise.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p><strong>WTI crude oil futures hovered near $65.89 per barrel on Tuesday, extending losses as global economic concerns and U.S. trade policy fueled uncertainty in the market.<\/strong><\/p>\n\n\n\n<p>Tariffs imposed and later delayed by <strong>U.S. President Donald Trump<\/strong> on key oil suppliers such as <strong>Canada and Mexico<\/strong>, alongside <strong><a href=\"https:\/\/t.co\/JV0WNMwYh7\">China\u2019s retaliatory measures<\/a><\/strong>, raised fears of a <strong><a href=\"https:\/\/t.co\/pOtF3vj68I\">global economic slowdown<\/a><\/strong> that could weigh on oil demand.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Executives from some of the world\u2019s top oil and gas producers offered full-throated support for Trump\u2019s \u201cEnergy Dominance,&quot; even as financial markets slumped on broader concerns about his economic agenda <a href=\"https:\/\/t.co\/Sz9ooH5tho\">https:\/\/t.co\/Sz9ooH5tho<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1899244006229348785?ref_src=twsrc%5Etfw\">March 10, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Additionally, concerns over <strong>China\u2019s economic health<\/strong> persisted after new data showed that <strong>deflationary pressures intensified<\/strong> despite <strong><a href=\"https:\/\/t.co\/miAEhcuqjP\">government stimulus efforts<\/a><\/strong>. As <strong>China is the world\u2019s largest crude importer<\/strong>, weaker demand expectations pushed oil prices lower.<\/p>\n\n\n\n<p>On the <strong>supply side<\/strong>, Russia\u2019s Deputy Prime Minister <strong>Alexander Novak<\/strong> stated that <strong><a href=\"https:\/\/t.co\/17FxAXhdxt\">OPEC+ is set to increase oil production from April<\/a><\/strong>. However, he emphasized that this decision could be <strong>reversed if market conditions worsen<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>Crude oil is trading <strong>flat at $65.893<\/strong>, with the price showing little net change. The session saw a <strong>high of $66.053<\/strong> and a <strong>low of $65.283<\/strong>, indicating a range-bound movement after recent declines. The <strong>moving averages (5, 10, 30) suggest ongoing consolidation<\/strong>, while the <strong>MACD shows early signs of a bullish crossover<\/strong>, hinting at a potential short-term recovery.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image-9-1024x440.jpg\" alt=\"\" class=\"wp-image-18067\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Crude oil stabilizes near $65.89 as market seeks direction, as seen on the <\/em><em><a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a><\/em><\/p>\n\n\n\n<p>For further upside, <strong>resistance is seen at $67.671<\/strong>, and a break above this level could push oil toward <strong>$68.20-$68.50<\/strong>. On the downside, <strong>support is at $65.283<\/strong>, and a drop below could trigger further declines toward <strong>$64.80-$64.50<\/strong>. Traders should monitor <strong><a href=\"https:\/\/t.co\/LU3wV8mIzr\">OPEC+ supply decisions<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/t.co\/rWGArQAY1S\">U.S. inventory reports<\/a><\/strong><strong>, and global demand signals<\/strong>, as they will influence oil price direction.<\/p>\n\n\n\n<p>Technically, <strong>WTI crude remains under pressure<\/strong>, with resistance near <strong>$67.67<\/strong> and support at <strong>$65.28<\/strong>. The <strong>MACD indicator suggests weak momentum<\/strong>, while the <strong>moving averages indicate further consolidation<\/strong>.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a><\/strong><strong> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WTI crude oil futures hover near $65.89 as economic uncertainty, U.S. tariffs, and China\u2019s weak data weigh on market sentiment. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[66],"class_list":["post-18066","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-oil"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/18066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=18066"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/18066\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=18066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=18066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=18066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}