While Brent and WTI crude oil futures Brent and WTI crude oil futures are at six-month highs, nuclear negotiations between Washington and Tehran and the recent escalation of tariffs in the US are setting the tone for the global energy market.
During Monday’s trading, Brent traded close to 71.85 dollars per barrel, while WTI reached 66.63 dollars, levels not seen since August of last year. This recovery has been driven by geopolitical factors that have increased the perception of risk in the energy markets. energy markets..
Oil price versus diplomacy and economics
The United States and Iran are scheduled to resume nuclear talks on Thursday. Analysts believe this round could be decisive, as Iran has shown a willingness to relax its position in exchange for the lifting of economic sanctions. The outcome of this dialogue could directly influence the global supply of crude oil. global crude oil supplygiven the Persian country’s export capacity.
The recent decision of the US Supreme Court to overturn the previous tariff program has generated an immediate response from former President Trump, who announced a temporary tariff increase to 15% on imports. This move adds a new element of uncertainty to the global economy, with direct implications on the energy demand.
Volatility and expectations in the crude oil market
Pending definitions on the diplomatic front, analysts point out that the combination of sanctions, potential military actions and domestic economic decisions in the U.S. could keep the oil price volatile. oil price volatility price volatility over the coming weeks. Although there is no physical shortage of crude oil, market perceptions continue to drive prices.
Although the market is mainly supported by geopolitical concerns, any breakthrough in negotiations or new trade actions are expected to alter the current balance. Signals from the Middle East will continue to be critical for traders and governments who depend on stability in crude oil prices.
Source: Reuters
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