Oil prices saw a slight rise on Wednesday, boosted by a faltering U.S. dollar. However, fears of a looming U.S. economic slowdown along with tariff implications restrained substantial gains.

Market Movement Overview

📈 Brent crude futures moved up by $0.13 (0.2%), reaching $69.69 per barrel.

📈 West Texas Intermediate (WTI) crude futures grew by $0.13 (0.2%) to hit $66.38 per barrel.

Market Influencers

✅ Weak Dollar Influence: The dollar index fell by 0.5%, marking fresh lows for 2025. This made oil more affordable for international markets, consequently boosting demand.
✅ Sturdy Demand in Short-Term: Analysts still see sturdy crude demand amid economic strain.
⚠️ Concerns Over Economic Slowdown: Ongoing fears about a U.S. recession alongside tariff uncertainties have clouded market sentiments.

Expert Insights

• Daniel Hynes (ANZ): “Despite broader economic concerns, near-term demand for crude remains solid.”
• Priyanka Sachdeva (Phillip Nova): “Dollar’s weakness provides some support, but it may be temporary.”
• Yeap Jun Rong (IG): “Ongoing tariff discussions and growth apprehensions keep oil sentiment jittery.”

Investment Takeaways

For those watching energy markets, tracking volatility in oil prices and economic data can reveal useful trends. Tools like Commodities Prices will supply real-time data, ensuring informed investment choices.