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.
Analysts at Canada's BCA Research predict gold prices will keep climbing as industrial metals lose appeal. Weak economic activity in China and higher US import tariffs are reducing demand for copper, iron ore and even oil.
According to Barclays analysts, oil demand in China remains resilient despite a surge in electric vehicle sales over the past few years. Meanwhile, strong consumption figures for the first half of the year suggest that the demand outlook could be raised.
Crude prices rose in early trade on Thursday, recovering from the previous session's losses. The rebound was driven by better-than-expected economic data from top oil consumers and easing global trade tensions, Reuters reports.
In recent months, global oil reserves have grown rapidly. Most of this growth has occurred in the Asia-Pacific region, helping to keep energy prices stable, Morgan Stanley reports.
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 WTI, Brent.
The American Petroleum Institute (API) reported an unexpected increase in US crude oil inventories. For the week ending July 11, stockpiles rose by 19.1 million barrels. However, data from other sources, including Reuters, show a different picture.
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
Oil prices increased on Wednesday due to expectations of steady summer demand in the United States and China, the world's top oil consumers. Analysts at LSEG noted that growing vacation travel and industrial activity are supporting prices.
OPEC has kept its oil demand growth projections for 2025–2026 unchanged, anticipating a stronger global economy in the second half of the year despite ongoing trade tensions. The organization noted that robust refinery activity to meet seasonal travel demand should continue supporting fuel prices.
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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.
