Economic concerns are still existing because of US duties and monetary policy
Oil prices are rising today, Tuesday as investors took advantage of the losses of the previous days, although their concern remains due to the possible impact that Trump’s duties and US monetary policy can cause on the economy, factors that could reduce demand.
The Futures of Brent crude oil They increased 36 cents, or 0.5%, to $ 66.62 a barrel. The crude US West Texas Intermediate contract for May, expiring Tuesday, was at $ 63.73 a barrel, up 65 cents or 1%.
June’s West Texas Intermediate (WTI) (the most active contract) is up 0.7%, or 43 cents, to $ 62.84 a barrel.
“Some brief coverage came after Monday’s steep sell-off,” said Hiryuki Kikukawa, head of strategy at Nissan Securities Investment.
“However, concerns about a possible recession caused by the duty war still exist,” he said, predicting that the WTI will probably negotiate at $ 55-65 at present given the continuing uncertainty about tariffs.
Source: Skai
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