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.
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.
Oil prices fell following US President Donald Trump’s announcement of de-escalation in the Middle East. Brent crude dipped almost 5% to $68 per barrel in early Tuesday trading.
An increase of the indicator value may contribute to the rise in quotes of WTI, Brent.
Asian oil buyers and traders are closely monitoring the situation around Iran, fearing possible supply disruptions. The Strait of Hormuz handles 90% of all oil shipments from the region to Asia.
Goldman Sachs flags the possibility of higher oil and gas prices following the US intervention in the Middle East conflict, with the company’s base-case scenario hinging on significant disruptions to energy supplies from the region.
Oil prices surged more than 3% at the start of Monday’s trading session, with Brent crude hitting a five-month high of $79.33 a barrel and WTI climbing to $77.10. The rally came after the US administration signaled strikes against Iranian targets, according to Reuters.
A decrease 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.
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.
