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.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
Oil production growth in the US Permian Basin has hit its slowest pace since the COVID-19 pandemic, according to Reuters. Companies are extracting more water and gas per barrel, raising development costs and signaling that America may be approaching peak production levels.
According to Bloomberg calculations based on preliminary data on ship movements, Venezuela has increased oil exports to China to the highest level in almost two years amid growing pressure exerted on the country by the United States.
On Friday, oil is holding near a one-month high. Prices are expected to rise for a third consecutive week, driven by concerns over tighter global supplies due to new US restrictions on Iran and the imposition of 25% tariffs against countries that buy oil and gas from Venezuela.
British company BP has received final approval from the Iraqi government to develop huge oil fields in Kirkuk. The deal will be based on a profit-sharing model, and will last for more than 25 years. BP plans to invest about $25 billion in the project to produce around 3 billion barrels of oil.
Activity in the US oil and gas industry increased in the first quarter, but executives have grown more pessimistic due to the Trump administration’s tariffs and trade policies, according to a Federal Reserve Bank of Dallas survey. The poll included 130 firms from Texas, New Mexico, and Louisiana.
Reuters reports that oil prices continue to rise on Thursday on concerns over tighter global supply caused by US President’s intentions to impose tariffs on Venezuelan crude buyers.
An increase 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.
Britain's North Sea Transition Authority, which regulates oil and gas production in the region, has raised its investment and output forecasts following unexpectedly strong results for 2024.
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.
