The world oil market is experiencing another downturn: oil prices are falling due to signs of economic instability in the world's two leading economies - the United States and China. Analysts see weak growth indicators, as well as a deterioration in the US credit rating, as signs of a potential global economic slowdown.

According to Reuters, Monday morning began with a fall in Brent crude futures - the price fell by 35 cents, or 0.5%, and amounted to $ 65.06 per barrel as of 04:40 GMT. American WTI fell by 26 cents (0.4%), reaching $ 62.23 per barrel.

The decline in prices also affected futures with a more distant delivery date. The July WTI contract fell 31 cents, or 0.5 percent, to $61.66 a barrel. Meanwhile, the June contract expires on Tuesday, which also weighed on investor sentiment.

Oil prices rose more than 1 percent last week after the United States and China announced a 90-day trade truce that saw some import tariffs reduced. This temporary relief provided some optimism in the market. But after Moody’s downgraded the United States’ credit rating, investors turned cautious. Priyanka Sachdeva, senior market analyst at Phillip Nova, said that while the decision did not directly impact oil demand, it did contribute to pessimism among market participants.

The downgrade was driven by the rapid growth of the US national debt, which currently stands at $36 trillion. This could complicate the implementation of the tax initiatives of the Donald Trump administration, particularly in the context of the approaching election campaign, where economic stability is a key factor.

Against this background, mixed economic data was published in China: although the growth rate of industrial production in April exceeded forecasts, the overall dynamics indicate a slowdown. Agreements with Washington on the abolition of mutual tariffs have not become a panacea - due to the unpredictability of President Trump's position, the Chinese economy remains vulnerable. Current duties and 30% tariffs on some goods continue to put pressure on business activity.

Another factor of uncertainty for the oil market has become the nuclear negotiations between the US and Iran. US Special Representative Steve Witkoff stressed on Sunday that any new agreement with Tehran must include a complete refusal to enrich uranium. The demand has sparked a sharp reaction from Iran and heightened tensions in the Middle East, a region critical to global energy supplies.

Overall, oil has come under pressure from a range of global factors, from U.S. debt risks to a slowing Chinese economy to geopolitical instability. This sets the stage for further volatility in energy markets in the coming weeks.