US EditionOil Prices Hold Near 2-Week High as Traders Assess US Tariffs, OPEC+ ...
UNITED STATES, JUL 8 – U.S. tariffs and a 548,000 barrel per day output rise from OPEC+ influence oil prices near two-week highs, with analysts warning of possible autumn oversupply.
- On Tuesday, oil prices hovered near two-week highs as investors evaluated U.S. tariffs starting August and OPEC+’s larger-than-expected output increase for August.
- President Trump announced tariffs starting August 1, prompting OPEC+ to agree on a 548,000 bpd production increase for August, removing most voluntary cuts.
- Oil prices held near two-week highs on Tuesday as investors assessed a forecasted 2.8 million-barrel crude stock draw and record holiday travel, amid U.S. tariffs and OPEC+ output increases.
- Oil held near two-week highs as traders assessed U.S. tariffs and OPEC+ output increases, risking oversupply and potential price decline this fall, analysts say.
- Analysts at HSBC and Commerzbank forecast Brent slipping to around $65 this fall amid seasonal demand decline and increased OPEC+ supply.
15 Articles
15 Articles
Oil Prices Near 2-Week Highs On OPEC+ Output and U.S. Tariffs
Oil prices climbed Tuesday, hovering near two-week highs as markets absorbed the impact of a larger-than-expected OPEC+ production increase and ongoing uncertainty around US trade policy. As of mid-afternoon, Brent crude was up 89 cents at $70.47 per barrel, while US West Texas Intermediate rose 80 cents to $68.73. Both benchmarks are on track for their highest close since June 24. OPEC+ on Saturday approved a 548,000 barrel-per-day (bpd) produc…
The WTI rises above $ 67.00 due to the growing concerns for the offer, delay in US tariffs. - World Stock Market
The price of WTI gains ground amid growing concerns for the offer after the attack of the hutis in the Red Sea. The implementation of US tariffs to the main business partners contributes to support oil demand. OPEC+ is ready to increase oil production by approximately 550,000 barrels per day in September. The price of oil West Texas Intermediate (WTI) extends its winning streak for third consecutive session, quoting around $ 67,60 per barrel dur…
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