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.
US crude oil and fuel inventories declined by 5.8 million barrels to 415.1 million barrels in the week ending June 15, as refining activity and fuel demand rose, the Energy Information Administration (EIA) reported.
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
The moderate oil price swings during the Middle East conflict may be explained by multiple factors, including the development of alternative export routes and the Middle East’s declining share of global crude supplies.
According to the latest outlook presented by S&P Global Commodity Insights this Tuesday, the volume of oil sand production in Canada this year will reach a new high at 3.5 million barrels per day (+5% compared to the previous year).
On Wednesday, oil prices climbed up, recovering from their sharpest two-day dip since 2022. According to Bloomberg, this shift in market sentiment followed a reassessment of geopolitical risks and a new industry report showing a decline in US fuel stockpiles.
According to US President Donald Trump's statement posted on social network Truth on Tuesday, China may continue to buy oil from Iran. Such a declaration goes against the official position of the country, which for years has been imposing restrictions on crude exports from Iran.
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
China’s oil refiners are slashing crude purchases due to a decline in profits stemming from weak domestic demand. The move also comes against the background of sharp fluctuations in global oil prices and delays in adjusting diesel and gasoline prices by the local regulator.
On Monday, US President Donald Trump addressed his administration with a call to increase oil production and get market participants to keep crude prices down. The call came amid fears of rising energy costs due to the situation surrounding Iran.
News on oil prices is not just information for specialists. This is an important signal for every experienced trader. This section of the website will help you understand when there’s a "Strong buy" signal for oil and when it is a "Strong sell" signal.
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.
