OPEC, Oil and crude price
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Oil prices fell over 1% on Thursday, retreating from earlier gains, as investors weighed the potential effects of a U.S. court ruling that blocked the most sweeping of President Donald Trump's tariffs.
A U.S. trade court struck down President Trump's tariffs, sparking a rise in oil prices as traders responded to the legal shift and stronger-than-expected demand signals.
Oil prices were mixed in the early Asian session, but may be weighed by a larger-than-expected decline in U.S. crude inventories.
Oil prices were on track to end the week down more than 1% on Friday amid whipsawing tariff rulings in the U.S. and as the market braced for a potential OPEC+ output hike.
Saudi Arabia is reconsidering the pace and scope of its investment projects and may increase borrowing as plunging oil prices widen its budget deficit.
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