On Tuesday, oil prices are declining due to pressure from concerns over escalating trade tensions. Market participants are worried about the impact of increasing friction between the US and EU on economic activity and fuel demand.
Oil prices fell further on Monday, extending their sharpest weekly decline in two years. The downward pressure was driven largely by aggressive bearish bets from hedge funds, reacting to expectations of increased production from OPEC+ nations, Bloomberg reports.
An increase of the indicator value may contribute to the rise in quotes of WTI, Brent.
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
Scheduled deliveries of crude to the US Strategic Petroleum Reserve will not be completed until year-end as the site is now under maintenance, says the Department of Energy.
According to yesterday's Goldman Sachs analysts' report, the probability of the Strait of Hormuz oil supply disruptions following the easing of the Middle East geopolitical tensions stands at 4%. Market participants' concerns intensified amid escalating tensions between Iran and Israel.
Oil imports in Asia increased in the first half of 2025, driven by a sharp rise in June shipments, despite a weak start to the year. The region's fuel imports averaged 27.36 million barrels per day in the first six months of the year, up 620,000 barrels per day year-over-year.
The Trump administration has announced plans to auction off oil and gas drilling licenses across more than 320,000 square kilometers in the Gulf of Mexico. Set for December 10, the sale will include both shallow-water and deepwater tracts.
According to Bloomberg, Russia is open to increasing oil production at the next OPEC+ meeting if the alliance deems it necessary, as reported by a source familiar with the country's position. The eight members of the organization may consider another production hike for August.
According to Bloomberg, oil prices held their earlier gains on Thursday. The news agency attributes this trend to US President Donald Trump's statement about continuing pressure on the Iran oil industry and a government report showing a significant decline in domestic crude inventories.
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Oil price movements are more than just charts on a screen. It is one of the key drivers of the global economy. Understanding these dynamics helps in making rational decisions and adapting to changes.
