Brent crude oil futures edged lower to around $65 per barrel on Wednesday, trimming gains from the previous session as markets weighed OPEC+ plans to increase output and growing economic concerns linked to tariffs.
On Tuesday, the OECD lowered its global growth outlook, citing mounting pressure on the US economy from escalating trade tensions. Limiting further losses, industry data showed a larger-than-expected drop in US crude inventories, with stockpiles falling by 3.3 million barrels last week well above the forecasted 0.9 million-barrel decline.
Geopolitical risks also supported prices, with concerns over potential supply disruptions from the ongoing Russia-Ukraine conflict, while an Iranian diplomat indicated Tehran would likely reject a US proposal to resolve the nuclear dispute.
Adding to supply-side pressures, widespread wildfires in Canada since early May have forced evacuations and disrupted crude production.
Source: Trading Economi
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...