Crude oil futures slide despite positive manufacturing data from China, the world’s largest crude importer.
While China’s factory activity expanded at its fastest pace in three months, indicating stronger industrial output and energy demand, the optimism could remain limited amid broader economic concerns.
The upcoming U.S. tariffs on Chinese exports, set to take effect on March 4, introduce uncertainty, with escalating trade tensions posing a threat to global economic stability.
While China’s recovery offers some support, lingering geopolitical risks and trade disputes weigh heavily on traders’ sentiment, limiting any sustained price rebound on the crude oil market.
Geopolitical risks further complicate the market, with European support for Ukraine, peace hopes could weigh on crude prices. Furthermore, a lack of tangible progress toward a peace deal and continued sanctions on Russia could contribute to ongoing uncertainty.
