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 are moderately declining due to concerns over escalating trade tensions between the US and China, the threat of slowing global economic growth, and a possible drop in fuel demand. On Monday, Brent and WTI crude oil benchmarks pulled back from Friday's highs.
Goldman Sachs projects oil prices will be falling until the end of this year and through next year on increasing risk of global recession and a supply hike from OPEC+. WTI and Brent crude will average $59 and $63 per barrel, respectively, through the end of 2025.
A decrease of the indicator value may contribute to the fall in quotes of WTI, Brent.
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.
According to Reuters, Saudi Arabia will supply China with about 48 million barrels of oil in May. By comparison, April’s volume is just above 35 million. The projected amount is the highest since 2024, and it also represents the first rise this year, the agency reports.
Oil is falling for the second week in a row amid escalating trade tensions between the US and China. On Friday, prices continued their bearish trend as market players feared that the ongoing dispute between the world's two largest economies could lead to reduced fuel consumption.
The US has significantly lowered its forecast for global oil demand growth in 2025, now predicting an increase of 900,000 barrels per day (bpd). This is 400,000 bpd lower than the previous outlook, according to Bloomberg.
Saudi Aramco recently reported on the discovery of 14 new oil and gas fields which will allow Saudi Arabia to raise its oil production by 8,000 barrels per day (bpd) and increase its gas output by 80 million cubic feet per day.
Saudi Arabia's efforts to enforce production discipline among OPEC+ member countries are being called into question. Kazakhstan does not intend to cut crude output, according to several sources cited by Bloomberg.
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.
