11/7/2025, 8:44:02 am

Oil prices partially rebound amid US tariffs, OPEC downgrade concerns

Oil prices steadied, with Brent crude futures up 19 cents to $68.83 and U.S. West Texas Intermediate crude up 26 cents to $66.83. OPEC cut global oil demand forecasts to 106.3 million barrels per day in 2026 due to slowing Chinese demand. New tariffs by President Donald Trump, including a 35% rate for Canadian imports, also contributed to market volatility.