• Apr 03, 2025

Goldman cuts oil price forecasts amid tariff fears, higher OPEC+ supply

"The risks to our reduced oil price forecast are to the downside, especially for 2026, given growing risks of recession and to a lesser extent of higher OPEC+ supply," Goldman analysts said in a note. Brent crude was priced at $69.59 a barrel as of 0408 GMT on Friday, while WTI was at $66.39.

  • Apr 03, 2025

S&P 500 loses $5 trillion in two days in Trump tariff selloff

NEW YORK (Reuters) -Global stock markets extended their recent rout on Friday, with S&P 500 companies wiping out $5 trillion in stock market value since U.S. President Donald Trump unveiled sweeping tariffs on Wednesday, while investors fled to the safety of government bonds. The Nasdaq confirmed it was in a bear market, ending more than 20% below its record high close, while oil prices and other commodities plunged. That $5-trillion loss marked a record two-day decline for the S&P 500 benchmark, exceeding a two-day loss of $3.3 trillion in March 2020 when the pandemic ripped across global markets, according to LSEG data compiled by Reuters.