Sri Lanka, June 11 -- Global crude oil prices are facing downward pressure, with analysts from S&P Global and other outlets predicting a potential drop below 50 US Dollars per barrel this year.

This projected decline is largely attributed to the slowest demand growth since the pandemic lockdowns, offering a glimmer of hope for consumers worldwide seeking relief from rising fuel costs.

However, despite these bearish fundamentals, current oil prices are actually rising, buoyed by optimism surrounding ongoing US-China trade negotiations and the potential easing of export controls.

China's recent restrictions on rare earth exports and discussions about reversing them have added significant volatility to global markets, creating concern acr...