West Texas Intermediate (WTI) crude oil prices climbed on Monday, fueled by worries over potential disruptions to Iran's oil supply due to US sanctions. However, concerns about the impact of Trump's trade policies on global growth and energy demand limited gains. A modest strengthening of the US Dollar also contributed to capping the upside potential.
West Texas Intermediate (WTI) US Crude Oil prices saw a modest increase on Monday, marking the second consecutive day of gains. The commodity moved away from the lowest levels since December 30, reaching around $71.25, up over 0.60% for the day. However, the upward momentum remains limited due to mixed fundamental signals.The primary catalyst for the price increase was heightened concern over potential disruptions to Iran's oil supply.
US President Donald Trump's administration imposed new sanctions targeting individuals and vessels involved in the sale and transportation of Iranian crude to China. Trump also reiterated his intention to implement a maximum-pressure approach against Iran, aiming to reduce its oil exports to zero. These developments fueled fears of supply disruptions in the global oil market, providing support for crude oil prices.However, concerns about the impact of Trump's trade policies on global economic growth and energy demand capped the upside potential. Trump threatened to impose additional 25% tariffs on all steel and aluminum imports into the US, further escalating the US-China trade war. This, coupled with the potential for increased inflation due to Trump's protectionist measures, raised doubts about the sustainability of the recent oil price rally. Additionally, a modest strengthening of the US Dollar, driven by expectations that Trump's policies would boost inflation and limit the Federal Reserve's ability to ease monetary policy, exerted downward pressure on crude oil prices.Traders remain cautious and await stronger buying momentum to confirm that the recent decline witnessed over the past three weeks has run its course. Placing bullish bets on crude oil at this juncture appears premature until there is a clear sign of sustained demand recovery and a resolution to the geopolitical risks surrounding Iran's oil exports
WTI Crude Oil Iran Sanctions Trade War US Dollar Global Economic Growth Energy Demand
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