Oil steadied as the market digested the fallout from President Donald Trump's order of potential reciprocal tariffs on US trading partners.
Brent was near $75 a barrel after a modest decline on Thursday, while West Texas Intermediate was above $71 a barrel. The US president signed a measure to propose new levies on a country-by-country basis. It could take weeks or months to complete, but raised the prospect of more trade tensions.
Tariffs on crude from Canada and Mexico are set to start next month, alongside a levy on steel, but the US oil industry is confident it can win exemptions from the Trump administration, according to the American Petroleum Institute.
Oil is still heading for a slight gain this week, the first since mid-January, following signs that US sanctions were tightening the flow of Russian crude. However, Trump and his counterpart Vladimir Putin have agreed to talks on ending the war in Ukraine, raising speculation risks to supply could ease.
Sanctions on Russia, along with Iran, prompted the International Energy Agency to once again cut its expectations for a global oil surplus this year. The outlook for stronger demand growth in Asia contributed to the IEA's reduced forecast, according to a monthly report released on Thursday.
Brent for April delivery rose 0.3% to $75.23 a barrel at 10:18 a.m. in Singapore.
WTI for March delivery was 0.2% higher at $71.43 a barrel.
Source : Bloomberg
Oil prices headed for a third straight monthly decline, falling on Friday (October 31st) due to a stronger US dollar, weak Chinese data, and rising supply from major global producers. Brent crude fut...
Oil headed for a third monthly drop on concerns about a global glut, with OPEC+ expected to back another supply hike this weekend. West Texas Intermediate fell toward $60 a barrel, on track for ...
Oil prices fell on Thursday (October 30th) as investors assessed the potential for a truce in the trade dispute between the United States and China. President Donald Trump lowered tariffs on China aft...
Oil edged lower as traders counted down to a summit between US President Donald Trump and Chinese counterpart Xi Jinping and, beyond that, an OPEC+ meeting on supply. West Texas Intermediate fel...
Oil prices were steady on Wednesday (October 29th) as investors weighed optimism over a meeting between the leaders of major consumers, the US and China, against expectations of an increase in product...
The Euro (EUR) weakens further against the US Dollar (USD) on Friday, with EUR/USD slipping to a three-month low. The pair remains under pressure as the Greenback draws support from the Federal Reserve's (Fed) hawkish tone after delivering a widely...
The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue climbed 20% in the third quarter and beat estimates, lifting tech names broadly. The Dow traded up...
Harga emas terus mengalami penurunan tajam pada hari ini, diperdagangkan di sekitar $3.983. Pergerakan ini terjadi karena beberapa faktor utama yang mempengaruhi pasar. Salah satunya adalah penguatan dolar AS yang terus bertahan di level tinggi....
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down...
The European Central Bank (ECB) announced on Thursday (October 30th) that it kept its key interest rates unchanged after its October policy meeting,...
Asia-Pacific markets opened mostly higher on Friday, with Japan's Nikkei 225 rising more than 1% to a new record, as investors reacted positively to...
Stocks were lower Thursday as investors digested a batch of Big Tech earnings, while a meeting between President Donald Trump and Chinese President...