Oil Prices Climb From Multi-Year Low, Tariff Concerns and Rising Supply Weigh
Oil prices rose on Thursday after heavy sell-offs drove the market to a multi-year low, however tariff uncertainties and a rising supply outlook capped gains. Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel by 0716 GMT, while U.S. West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel.
- The recent oil price surge may have temporarily alleviated concerns about energy demand, but the underlying factors contributing to the market volatility, such as the ongoing trade tensions and supply chain disruptions, are unlikely to be resolved quickly.
- As the global energy landscape continues to evolve, what role will emerging economies, such as India and China, play in shaping the future of oil markets and their impact on prices?