Recent weak economic data from the US and Germany has sparked investor concerns about a slowdown in energy demand. International crude oil prices dropped on February 25.

According to the US Conference Board, the US consumer confidence index experienced a significant decline in February, marking the largest monthly drop in three and a half years. Also, consumers' average inflation expectations rose to 6%, reaching the highest since May 2023. These indicated that rising inflation expectations have contributed to declining consumer confidence among the American public.

West Texas Intermediate (WTI) crude for April delivery decreased by US$1.77 (2.5%), reaching US$68.93/barrel on the New York Mercantile Exchange. Brent crude for April delivery fell by US$1.76 (2.4%), settling at US$73.02/barrel.