Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
3 July 2025 | Oil

Oil declines after two-week rally amid OPEC+ decision expectations — Bloomberg

Brent
WTI Light Crude Oil
Oil declines after two-week rally amid OPEC+ decision expectations — Bloomberg

According to Bloomberg, oil prices fell after the market experienced its largest increase in two weeks. Traders' attention is drawn to the US trade negotiations with key partners, as well as the OPEC+ meeting.

After climbing 3% on Wednesday, Brent crude traded near $69 per barrel, while WTI crude reached $67.56. In recent weeks, geopolitical tensions in the Middle East have caused oil prices to fluctuate. However, market participants are now shifting their focus to US trade negotiations, which could significantly impact energy demand, the agency reports.

ING Group NV analyst Warren Patterson highlights investor caution ahead of OPEC+'s expected decision to boost production in August. 

Meanwhile, Bloomberg notes strengthening market indicators that suggest rising oil demand, partly due to the ongoing heatwave across the United States.

Elizaveta Kuzmicheva MarketCheese

Recommended

United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 58.1K to 78.8K
Yesterday at 8:30 PM
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has increased from 410 to 411
Yesterday at 6:04 PM
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 543 to 544
Yesterday at 6:03 PM
United States. Cushing Crude Oil Inventories. The value of the indicator has increased from 0.745M to 1.478M
22 January
United States. Crude Oil Inventories. The value of the indicator has increased from 3.391M to 3.602M
22 January
Top news
European Union. Manufacturing PMI. The value of the indicator has increased from 49.2 to 49.4
Yesterday at 9:01 AM
Japan. BoJ Interest Rate Decision. The value of the indicator remained at the same level of 0.75%
Yesterday at 3:09 AM
United States. PCE price index (YoY). The value of the indicator has increased from 2.7% to 2.8%
22 January
United States. Core PCE Price Index (YoY). The value of the indicator has increased from 2.7% to 2.8%
22 January
United States. GDP (QoQ). The value of the indicator has increased from 4.3% to 4.4%
22 January
All news

Forecasts

AUDCAD buy
Period: 30.01.2026 Expectation: 600 pips
AUDCAD trend holds firm on upbeat Australian reports
Technical analysis TA Other FA Other Indicators Fundamental analysis
Yesterday at 11:16 AM 36
Lyra_Moonwell1
Lyra_Moonwell1
Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
Brent sell
Period: 30.01.2026 Expectation: 100 pips
Brent's rally stalls as upside is limited by $65–$66 resistance
FA Other Chart analysis Indicators
Yesterday at 10:17 AM 39
John_Bullard
EURUSD buy
Period: 28.02.2026 Expectation: 3000 pips
Buying EURUSD on weak US GDP print
Indicators and reports Chart analysis
Yesterday at 10:04 AM 26
Bruce_Powers
GBPUSD sell
Period: 30.01.2026 Expectation: 1110 pips
GBPUSD’s rally is capped despite eased geopolitical stress
Indicators and reports Technical analysis FA Other Indicators Fundamental analysis
Yesterday at 08:50 AM 15
Emily_Foster
Natural gas sell
Period: 29.01.2026 Expectation: 690 pips
NG selloff targets $4.400 ahead of reaching local high
Technical analysis TA Other FA Other Indicators Fundamental analysis
22 January 2026 44
Lyra_Moonwell1
Lyra_Moonwell1
Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
ETHUSD buy
Period: 29.01.2026 Expectation: 15200 pips
Investing in ETHUSD up to $3,170 on US-EU trade relief
Indicators and reports Technical analysis FA Other Indicators Fundamental analysis
22 January 2026 48
Emily_Foster
Go to forecasts