🛢️📉🌍 Oil Prices Edge Up After Sharp Drop as Saudi Stance and U.S. Recession Weigh 🔹 Summary: Oil prices stabilized slightly after a multi-year low, as markets absorbed news that Saudi Arabia is resisting further supply cuts while U.S. economic contraction intensified global recession fears. Brent and WTI crude rose marginally, but sentiment remains bearish with OPEC+ planning to hike output and global demand outlooks clouded by Trump's tariffs and trade tensions. 🔹 Key Points: • Brent crude rose 0.3% to $61.22; WTI edged up 0.1% to $58.27 after hitting four-year lows. • Saudi Arabia signaled no additional cuts, with OPEC+ considering accelerated output hikes in June. • The U.S. economy shrank for the first time in 3 years, deepening recession concerns. • A Reuters poll cut Brent’s 2025 price forecast to $68.98 from $72.94; U.S. crude to $65.08 from $69.16. • U.S. crude stockpiles unexpectedly fell by 2.7 million barrels last week, hinting at strong refinery demand. @CMEActiveTrader Tickers Of Interest: $CL $BZ $RB Tickers Of Interest: $OXY $XOM $CVX $USD $CNY