Oil prices rose in Asian trade on Wednesday, recovering some losses after U.S. industry data showed an unexpected decline in crude inventories. However, prices remained under pressure following weak economic signals from the U.S. and Germany, raising fears of slowing global demand.
Brent crude futures for April gained 0.3% to $73.27 per barrel, while WTI crude rose 0.4% to $69.17 by 01:38 GMT. This slight recovery followed a sharp $2 decline on Tuesday amid economic worries. The American Petroleum Institute (API) reported a 0.6 million barrel draw in U.S. oil stockpiles, defying forecasts of a 2.3 million barrel increase. Traders now await official inventory data due later Wednesday for confirmation of tighter supply.
Despite this boost, crude markets face mounting pressure from economic uncertainty. U.S. consumer confidence dipped in February, signaling weaker private spending. Meanwhile, Germany’s GDP contracted further, reinforcing concerns over economic slowdown in Europe. These factors have fueled worries over declining oil demand in the coming months.
Additionally, renewed tariff threats from former President Donald Trump have rattled global trade prospects. Trump hinted at tariffs on copper and reaffirmed levies on Mexico and Canada set to take effect next week. Concerns over potential tariffs on China—one of the largest crude importers—have also weighed on sentiment.
Investors now focus on upcoming U.S. fourth-quarter GDP data due Thursday and the Federal Reserve’s preferred inflation gauge, the PCE price index, set for release Friday. German inflation figures will also be closely watched. As market uncertainty persists, oil traders remain cautious about future price trends.


Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Australia’s December Trade Surplus Expands but Falls Short of Expectations
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears
Thailand Inflation Remains Negative for 10th Straight Month in January
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 



