Trump targets oil companies over fuel pricing as crude pulls back

Traders Union
All News
Financial News
Trump targets oil over pricing

Highlights

Trump accuses major oil companies of gasoline price gouging after crude declines and directs the DOJ to investigate, warning pump prices should drop faster.
WTI and Brent crude prices fell in early trading but remain above pre-Iran crisis levels, while Asian tech stocks, led by South Korea's Kospi, rebound from this week's selloff.
Morgan Stanley restricted withdrawals at its $7 billion private credit fund after redemption requests surpassed 11%, signaling elevated private market strain.

Fuel pricing dispute and market backdrop

As reported by CNBC, Trump says in a Truth Social post that major oil companies are not cutting gasoline prices in line with the sharp decline in the price they are paying for crude, and he accuses them of gouging customers. He says he has instructed the DOJ to immediately begin looking into the issue and warns that pump prices should be falling faster.

Crude prices are moving lower in early trading, with both WTI and Brent under pressure. Even so, both benchmarks remain well above levels seen before the Iran crisis, despite retreating from their recent highs.

Broader market pressure across sectors

Elsewhere in markets, technology stocks across Asia are rebounding after a steep global selloff led by Wall Street earlier this week. South Korea's Kospi is leading the recovery, with Samsung and SK Hynix posting sharp gains after Tuesday's losses hit chipmakers and AI-linked stocks particularly hard.

On Wall Street, the Nasdaq Composite fell 2.2% and the Philadelphia Semiconductor Index also declined as investors sold semiconductor shares. Micron Technology and Sandisk dropped 13%, while Intel, Advanced Micro Devices and Qualcomm each lost more than 5%.

Private markets are also facing strain. In a filing on Tuesday, Morgan Stanley says it has limited redemptions at its $7 billion private credit fund after withdrawal requests exceeded 11%.

In UK politics, the Financial Times reports that Chancellor Rachel Reeves is unlikely to remain in her role in a new Labour government. Prime minister-in-waiting Andy Burnham is also facing growing calls from investors and economists to provide more clarity on his economic agenda.

In our earlier coverage of the global tech-led selloff, we noted how the sharp drop in chip and AI-linked stocks spilled over into broader risk assets, reinforcing a defensive tone across markets. We also highlighted that tighter financial conditions—via a stronger dollar and higher U.S. Treasury yields—were amplifying pressure, while crude prices weakened further as investors turned more cautious.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.