Concerns about weakening demand due to the ongoingglobal trade war caused a drop in oil prices, underscored byrecent US economic data suggesting emerging pressures.US crude is heading towards its biggest monthly declinesince 2021. This price slump is attributed to the escalating trade disputeinvolving reciprocal tariffs between the US and its tradingpartners, alongside OPEC+'s intention to increaseproduction. Despite numerous nations engaging in tradetalks with Washington, Beijing has stated its non-participation thus far.