Crude oil prices saw a rise on Monday despite the uncertainty surrounding President Trump’s latest tariff threats on steel and aluminum, which some fear could cripple global economic growth and lower energy demand.

Current Oil Market Status

Brent crude: up by 0.7% at $75.17

WTI crude: up by 0.6% at $71.45

However, oil prices marked a third consecutive weekly decline last week due to fears related to the trade tensions.

Factors Influencing Oil Prices

Trump’s Trade War Escalate:

The addition of 25% tariffs on steel and aluminum imports takes effect Monday.

Retaliatory Chinese tariffs impact U.S. exports starting today.

While investors remain cautious, they are less reactive to tariff headlines than in previous months.

“Markets seem to comprehend that these tariff threats could linger for a while but might also be reversed or changed,” noted analyst Tony Sycamore from IG.

Energy Market Consequences:

Oil and gas traders are engaging with Beijing for potential waivers on U.S. crude and LNG imports.

Geopolitical tensions surrounding Russian oil sanctions are still a topic of concern as well.

Discussions about the Ukraine conflict may further influence oil supply trends.

Future Insights for Oil Prices

Market analysts will watch:

User feedback on trade negotiations affecting both demand and supply.

Upcoming U.S. inflation data that may inform the Fed’s rate policy and thereby oil demand predictions.

Global supply risks include the implications of Russian sanctions and OPEC production factors.

For further insights into pricing trends, visit: Entreprenerdly.com