Oil prices surged this week to reach a three-year low, leaving traders wondering if the rout can continue. Several factors have contributed to the bearish sentiment, including OPEC’s surprise announcement of increased crude supplies and US President Donald Trump’s ongoing trade tensions. The group’s decision to boost production comes after months of defending higher prices, while Trump’s threats to major trading partners could lead to a decline in demand.
As a result, speculators are betting that worse is yet to come for the oil market, with many expecting further price drops. However, some analysts remain cautious, pointing out that the recent price surge may be short-lived due to various factors such as global economic uncertainty and supply chain disruptions.
Source: https://www.bloomberg.com/news/articles/2025-03-08/oil-s-bearish-lurch-has-speculators-betting-worse-is-yet-to-come