Oil Little Changed as Uncertainty over Ukraine, Global Growth Looms
Oil edged up on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 19 cents, or 0.3%, to $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%. China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes led to a solid rise in production.
- The synchronized global economic recovery will likely be disrupted by rising tensions between major powers, forcing nations to reassess their energy policies and prioritize stability over growth.
- How will the interplay between oil prices, trade wars, and emerging markets influence global energy security and economic resilience in the face of escalating geopolitical uncertainty?