April Oil Prices Slide to Record Lows

Oil Prices Take a Setback as War Fears Ease, But the Economy Keeps Its Wiggle

Brent & WTI Slide – The Big Drop of April

Early this morning, both major benchmarks, Brent and West Texas Intermediate (WTI), fell roughly 1.6%, landing at their lowest points seen since early April. Think of it like a pricey espresso shot taking a sip of cold coffee – the exporters’ mood has cooled a touch.

Peace Talk Clears the Middle‑East Radar (But The Storm Isn’t Fully Gone)

Surveillance drones report that the threat of a direct war between Iran and Israel is slipping away, giving traders a breather.
Yet behind the surface, Israel’s war government is still looking for a spark, especially with mounting domestic pressures.
Even without a direct clash, chatter about a potential ground operation in Rafah is rearing its head. If that front opens, supply lines could be hit hard, sending oil prices back up.

Global Economy: Interest Rates Stay High, Optimism Bottom‑Out

In the broader market, sentiment has dipped to its lowest levels of the year. The chance that the Federal Reserve will lower rates in June has dropped to a thin 15% – from a robust 67% mere weeks ago, per the CME FedWatch.

Brace yourselves:

We’re eyeing fresh Eurozone and U.S. service‑and‑manufacturing data.
U.S. oil inventories are expected to swell even more.
All these surprises might keep central banks in a hold‑up, delaying rate cuts.

On Friday, the Core PCE Price Index for March will surface, with analysts predicting a rebound in inflation to 2.6% from 2.8%, and monthly price growth nudging to 0.3%. A sharper or slower acceleration could spell a new wave of price volatility for the energy market.