Oil Prices Fall Sharply Amid Global Demand Concerns and Market Adjustments

Wed, 08 Apr 2026 18:50:00 +0200

Global oil prices fell sharply on April 8, 2026, marking what analysts say could be the steepest decline since the early months of the Covid-19 pandemic. Brent crude and West Texas Intermediate both dropped more than 8%, erasing weeks of gains as renewed worries about demand and market oversupply shook investor confidence. Traders pointed to signs of slowing growth in China and unusually high inventory levels in the United States as major factors behind the sudden selloff. The market reaction followed recent data suggesting that energy consumption is cooling globally, with industrial activity tapering off and travel season projections softening. Analysts also highlighted that geopolitical tensions in Eastern Europe and a stronger U.S. dollar have contributed to pressure on commodity prices. Many energy firms saw their stock values decline, while producers in OPEC signaled potential moves to stabilize the market through production cuts if the downward trend persists. The drop is part of