empty
 
 

27.03.202519:30:58UTC+00WTI Crude Rises Amid Supply Tightening and US Tariff Concerns

WTI crude oil futures experienced a slight uptick, closing at $69.90 per barrel on Thursday, building upon approximately 1% gains from the prior session. Traders are currently evaluating a contraction in oil supplies amid apprehensions concerning the potential global economic repercussions stemming from newly imposed US tariffs. There is considerable focus on the risks linked to mounting trade tensions, especially following President Donald Trump's announcement of a 25% tariff on imported automobiles and light trucks, with tariffs on auto parts anticipated to commence in May. Additional factors supporting the market include US sanctions, which have intensified supply risks from major producers such as Iran and Venezuela. Reliance Industries of India, the proprietor of the globe's largest refining facility, announced its plans to cease importing Venezuelan oil in light of the US's threat to impose a 25% tariff on its clientele. Correspondingly, data revealed a considerable decline in US crude inventories by 3.3 million barrels the previous week, further bolstering market sentiment.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


现在无法通话?
提出您的问题,用 在线帮助.
Widget callback