19.01.202617:26:57UTC+00Crude Oil Pares Losses

WTI crude oil futures remained steady at approximately $59.4 per barrel on Monday, after an earlier decline in the session, as the market adjusted following a fourth consecutive week of gains. This consolidation was influenced by shifting geopolitical and supply factors. Geopolitical tensions eased as President Donald Trump indicated a delay in military action against Iran, following Tehran's commitment not to execute protesters, alleviating immediate concerns about supply disruptions. Nevertheless, Trump cautioned that stricter measures could be reinstated if Iran resumes executions. Concurrently, the demand outlook was dampened by renewed trade tensions. Washington announced plans to implement a 10% tariff on imports from eight European nations beginning in February, potentially increasing to 25% in June if an agreement regarding Greenland is not reached. Furthermore, anticipation of a short-term supply surplus exerted pressure on prices, although these were partially offset by ongoing disruptions in Kazakh exports via the Black Sea, which continue to constrict certain areas of the physical market.