Analysis: The negative impact of tariffs on the macroeconomy suppresses oil prices.
The chief commodity analyst at Sweden's Nordea Bank and the global strategist at TD Securities pointed out that Trump's new tariff policy could have negative effects on trade, economic growth, and oil demand, potentially leading to Inflation, slowing economic growth, and exacerbating trade disputes, impacting crude oil prices. Trump's tariff policy is considered more aggressive, direct, and broad, and may last for a longer duration.