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 NG, WTI, Brent.
Brent crude oil prices declined by 11% this year. It was especially noticeable for European buyers because of the weakening of the dollar. The price per barrel is close to 58 euros ($65). It has declined for 19% since the beginning of 2025.
Russian oil producers have ramped up drilling to a five-year high in anticipation of OPEC+ easing output restrictions and a potential rollback of some Western sanctions, according to Bloomberg.
The US Interior Department has rolled out new guidelines for allowable pressure changes in a certain type of oil drilling in the Gulf of Mexico. According to Reuters, this move could significantly increase the country’s oil output.
Oil gained on Friday, but is set for a weekly loss. The decline in prices is driven by the expectations of a rise in global supply. For this week, Brent is on track to fall 2%, while WTI is set to lose 2.9%.
Oil prices declined on Wednesday as investors weighed the prospects of increased energy supply from OPEC+ and ongoing trade tensions between the US and China. Brent crude is holding steady around $65.20 a barrel today. West Texas Intermediate is trading above $62 a barrel after a recent drop.
Kazakhstan's disregard for OPEC+ agreements on oil production cuts could prompt the country to exit the group. This would worsen the state's relations with the cartel's leader, Saudi Arabia, and could lead to a price war, Reuters experts say.
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 WTI, Brent.
According to recent data from Joint Organization Data Initiative (JODI), published on Tuesday, in February crude oil exports from Saudi Arabia increased by 500,000 barrels per day (bpd).
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.
