On March 6, Trump's trade war cast a shadow over the outlook for crude oil demand. As OPEC + signaled to increase supply, international oil prices plummeted to their lowest point in more than three years. Cloth oil futures fell below $69/barrel, hitting their lowest since December 2021. US oil futures approached $65/barrel, hitting their lowest since May 2023. Trump's trade measures have the potential to reduce demand and redirect the flow of oil. Meanwhile, OPEC + countries are increasing production as planned. Last week's increase in domestic inventories in the United States also exacerbated expectations of oversupply. The growing pessimism has led many companies to downgrade their price forecasts. Rebecca Babin, senior energy trader at CIBC, said: "The market is repricing the downside risk to crude and the $65 floor has moved closer to $60. The focus has completely shifted from supply risk to demand concerns, which could signal that we are nearing a bottom."