Affected by the economic downturn, oil prices in the United States have stabilized in the range of $60 per barrel.

After falling to the $60 per barrel range, New York Mercantile Exchange crude oil futures stabilized due to the worsening prospects of the US economy threatening energy demand outlook and prompting investors to avoid risk assets including crude oil. WTI crude oil fell more than 2% on Tuesday, closing above $69 per barrel, the lowest closing price since mid-December last year, while Brent crude closed near $73 per barrel. Since 2021, the US consumer confidence index has seen the largest decline, sparking concerns about President Trump's tariff actions. Crude oil prices fell nearly 5% this month as Trump's aggressive trade measures have caused anxiety among investors, with oil traders now concerned about weak global consumption. Supply issues are also in focus, including the likelihood of a significant restart of pipelines from the semi-autonomous Kurdistan region of Iraq. The negative factors facing crude oil have offset the boost from supporting factors, including new sanctions on Iranian oil flows and expectations that OPEC+ will delay its plan to increase production from April. If it continues to delay production expansion plans, this would be the fourth time the organization has postponed production resumption measures. Analysts at Morgan Stanley, including Martin Rats, stated in a report, "Tariffs and anti-tariffs could put pressure on oil-intensive economies, bringing uncertainty to demand. We expect OPEC to extend the current quotas beyond April, which may keep production roughly stable." On another front, the American Petroleum Institute, funded by the industry, released a mixed report on US commercial inventories. While national petroleum inventories decreased by 600,000 barrels last week, the petroleum reserves at the key storage facility in Cushing, Oklahoma, increased by a significant 1.2 million barrels.