At 09:10 GMT, Light Crude Oil Futures are trading $63.07, up $0.22 or +0.35%. Saudi Price Cuts and OPEC+ Supply Moves Weigh on Sentiment Crude came under pressure midweek after Saudi Arabia reduced its July selling prices to Asia to the lowest in nearly two months. While the cuts were milder than expected, they reflect
At 10:28 GMT, Light Crude Oil Futures are trading $68.45, down $3.26 or -4.55%. Trump Tariffs Raise Global Demand Concerns The sell-off accelerated after President Trump announced a sweeping 10% minimum tariff on most U.S. imports, escalating fears of a broader trade war. While oil and refined products were excluded from the new duties, traders
U.S. Tariffs on Venezuelan Crude Raise Supply Concerns The U.S. has escalated sanctions pressure by authorizing 25% tariffs on crude imports from Venezuela. This move is expected to disrupt flows to key buyers including China, India, and parts of Europe. Chinese refiners have already paused Venezuelan purchases, awaiting clarity from Beijing on whether to halt
Daily US Dollar Index (DXY)Oil prices are finding support from a weakening U.S. dollar, which fell 0.5% to a fresh 2025 low on Tuesday. A weaker dollar makes crude more attractive to buyers using other currencies, providing short-term upside. However, mounting concerns over a U.S. economic slowdown and ongoing trade tariff uncertainties are capping gains.
At 12:04 GMT, Light Crude Oil Futures are trading $72.30, up $0.20 or +0.28%. US Crude Inventory Build Puts Pressure on Oil Prices Oil prices remained largely unchanged on Thursday after hitting a near one-week high in the previous session. The American Petroleum Institute (API) reported a 3.34 million barrel increase in U.S. crude inventories