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 remain stable at the beginning of the week as traders assess the impact of higher US tariffs and the upcoming increase in OPEC+ oil production. Brent oil traded above $72 per barrel after a 2.2% increase last week, and WTI was near $68. This is reported by Bloomberg.
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 WTI, Brent.
An increase of the indicator value may contribute to the fall in quotes of NG, WTI, Brent.
Reuters reports that oil prices rose in early Asian trading on Friday due to the introduction of US restrictions on Iran and a new OPEC+ plan to reduce overproduction.
OPEC+ countries, which previously exceeded the established oil production quotas, plan to further reduce crude oil output to compensate for the violations. Kazakhstan, Iraq and Russia proposed to increase the volume of production cuts in order to restore balance in the global oil market.
According to Reuters experts, the forecasts of international energy organizations on the state of the Chinese oil market do not coincide with reality.
According to estimates of the US Energy Information Administration (EIA), crude oil supplies to the United States from Canada decreased by 541 000 to 3.1 million barrels per day over the previous week, the lowest level over the past two years.
As reported by Reuters, oil prices edged up in early trading on Thursday on a drop in US fuel inventories and an escalation of tensions in the Middle East. Brent and WTI prices settled up 0,57% and 0,51%, respectively, due to a higher-than-expected drawdown in US distillate inventories.
An increase of the indicator value may contribute to the fall in quotes of 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.
