May 28, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Global trade uncertainty and subsequent concerns about the fate of the economy were reason enough to revise a forecast for crude oil prices lower, the Oxford Institute for Energy Studies reported. West Texas Intermediate (WTI), the U.S. benchmark for the price of oil, was trading lower at the start of Tuesday trading to reach $61.10 per barrel. WTI was trading at closer to $80 per barrel this time last year, but it has dropped for much of the year amid concerns of a global slowdown.
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