Oil futures declined in Asian trading. Prices remain volatile as traders try to assess the fallout from recent U.S. sanctions on Russia's energy sector, ANZ Research analysts said.
Oil prices dipped in early trade on Thursday, extending losses amid uncertainty over how proposed tariffs by U.S. President Donald Trump on several countries would impact global economic growth and energy demand.
Brent and WTI crude oils have distinct refining qualities and regional price influences, with Brent's premium over WTI narrowing recently. The new U.S. administration's focus on fossil fuel production aims to achieve energy independence, potentially reducing OPEC+'s pricing power. Crude oil prices have risen in early 2025, supported by geopolitical tensions, OPEC+ production cuts, and the approaching driving season.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
The crude oil market was somewhat noisy in the early hours of the Wednesday session. At this point in time, traders are trying to sort out where the next wave of buying comes into play.
Oil futures rose Wednesday, taking back some of the ground lost the previous session as investors weighed President Donald Trump's energy policies and tariff threats.
Oil prices rise as the dollar weakens, boosting demand. Traders eye inventory data for clues as crude battles key levels at $75.47 and $77.25.
The cheap Canadian oil America craves is becoming a key bargaining chip in President Trump's threatened trade war.
Market eyes natural gas and oil prices as geopolitical risks mount. Can support levels hold, or will bearish momentum push prices lower this week?
Oil prices were little changed in early trading on Wednesday as markets weighed U.S. President Donald Trump's declaration of a national energy emergency on his first day in office and its impact on supply.
Oil futures edged lower in early Asian trading. The market was digesting the impact of U.S. President Trump's raft of new energy policies, ANZ said.
Crude oil reached a 26-week high last week but faces a bearish reversal after breaking $77.30, with key support and resistance levels defining its next move.