Oil steadies on tariff uncertainty, Opec+ hike plans

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The story "Oil steadies on tariff uncertainty, Opec+ hike plans" was covered 2 days ago by The Star, a news publisher based in Malaysia.

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The Star 2d ago

Oil steadies on tariff uncertainty, Opec+ hike plans - The Star

Quick Summary:

Oil settled largely unchanged in choppy trade on Thursday, with global benchmark Brent closing below US$70 a barrel under pressure from tariffs between the US, Canada, and China, and plans by Opec+ to raise output.

Chinese officials have flagged that more stimulus is possible if economic growth slows, seeking to support consumption and cushion the impact of an escalating trade war with the US.

Helping boost prices, meanwhile, the US will exert a campaign of maximum pressure of sanctions on Iran to collapse its oil exports and put pressure on its currency, Treasury Secretary Scott Bessent said.