THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
DOWNLOAD
コンテナターミナル
Economic Updates
Philippines Trade Update: Trade deficit narrows but not a sign of strength
DOWNLOAD
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: BSP takes on less dovish tone
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph How To Sign Up
Access Exclusive Content Login to Wealth Manager
Search
THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
コンテナターミナル
Economic Updates
Philippines Trade Update: Trade deficit narrows but not a sign of strength
August 29, 2025 DOWNLOAD
Frick collection with palm trees 
Economic Updates
Policy Rate Updates: BSP takes on less dovish tone
August 28, 2025 DOWNLOAD
View all Reports
Markets 3 MIN READ

Oil up 2% on tighter US supplies but tariff concerns loom

March 13, 2025By Reuters
Related Articles
Philippine cbank chief signals policy tightening unlikely anytime soon October 17, 2021 US 10-year yield jumps to 12-1/2 year high September 27, 2022 Stocks set to end 4-week winning streak on recession worries August 19, 2022

NEW YORK – Oil prices rose 2% on Wednesday, as US government data showed tighter-than-expected oil and fuel inventories, though investors kept an eye on mounting fears of a US economic slowdown and the impact of tariffs on global economic growth.

Brent futures settled USD 1.39, or 2%, higher at USD 70.95 a barrel. US West Texas Intermediate crude futures gained USD 1.43, or 2.2%, to USD 67.68 a barrel.

US crude stockpiles rose by 1.4 million barrels in the latest week, US government data showed on Wednesday, which was less than the 2-million barrel rise forecasters had expected.

US gasoline inventories fell by 5.7 million barrels, versus expectations for a 1.9 million-barrel draw, while distillate stocks also dropped by more than expected.

“This week, the oil build was smaller than expected, and gasoline and diesel draws were larger than expected,” said Josh Young, Chief Investment Officer, Bison Interests. “This evidences stronger demand and could see oil prices rise as a result.”

In recent days, crude futures have been supported by a weaker US dollar and the Energy Information Administration (EIA) moving away from earlier calls of strongly oversupplied oil markets this year, said UBS analyst Giovanni Staunovo.

The dollar hovered near a five-month low against other major currencies, as traders digested tit-for-tat US-EU tariffs and a potential Russia-Ukraine ceasefire.

The dollar index, which fell 0.5% to fresh 2025 lows on Tuesday, boosted oil prices by making crude less expensive for buyers holding other currencies. USD/

However, signs of cooling inflation offered investors some respite after US consumer prices increased less than expected in February. Still, US President Donald Trump’s aggressive tariffs on imports are expected to raise the costs of most goods in the months ahead. Some have taken effect and others have been delayed or are set to kick in later.

Markets worry that tariffs could raise prices for businesses, boost inflation, and undermine consumer confidence in a blow to economic growth.

“Fears of a US recession, weakness in US stock markets, and concerns over tariffs affecting key oil players such as China, introduced additional market uncertainty and these factors could continue to fuel a bearish sentiment, putting a lid on oil prices,” said Hassan Fawaz, chairman and founder of brokerage GivTrade.

Also on Wednesday, the Organization of the Petroleum Exporting Countries kept its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption.

“Trade concerns are expected to contribute to volatility as trade policies continue to be unveiled. However, the global economy is expected to adjust,” OPEC said in the report.

OPEC also published figures showing a 363,000 bpd increase in production by the wider OPEC+ group in February, led by a jump in Kazakhstan which is lagging in its adherence to OPEC+ output quotas.

(Reporting by Stephanie Kelly in New York, Arunima Kumar in Mumbai, Nicole Jao in New York, and Jeslyn Lerh in Singapore; Editing by Louise Heavens, Nick Zieminski, and David Gregorio)

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Access this content:

If you are an existing investor, log in first to your Metrobank Wealth Manager account. ​

If you wish to start your wealth journey with us, click the “How To Sign Up” button. ​

Login HOW TO SIGN UP