Oil prices steadied after falling on concerns that the U.S.-China trade war would hurt global growth, offset by President Donald Trump's increasing economic pressure on Iran.
West Texas Intermediate crude was trading below $73 a barrel after a rocky start to the week as markets were rattled by tariff announcements and subsequent delays. Brent crude settled above $76. Trump has sought to use sanctions and tougher enforcement of existing measures to increase pressure on Tehran
On Tuesday, Beijing issued a swift but calculated retaliation to Trump's levies, which so far appear to be contained. The trade war between the world's two largest economies is unlikely to shake U.S. crude exports, as flows to China have fallen to less than 5% of total American shipments. Elsewhere, the industry-funded American Petroleum Institute reported that U.S. national commercial crude inventories rose by 5 million barrels last week, according to a document seen by Bloomberg. If confirmed by official data on Wednesday, it would be the second straight rise from the lowest level since March 2022.
Source: Bloomberg
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one ...
Oil prices rose on Wednesday (February 11th), supported by a combination of geopolitical risk premiums from US-Iran tensions and more solid Asian demand signals particularly from India which helped ea...
Oil remained in the green zone on Tuesday (February 10th), as the market refused to abandon the Middle East risk premium. As of 13:07 GMT (20:07 WIB), Brent rose +0.4% to $69.32/barrel, while WTI rose...
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fe...
Oil prices moved slightly higher in a volatile session on Friday, as investors assessed the direction of nuclear negotiations between the United States and Iran. Price movements appeared sensitive to ...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...