Oil Prices Remain Steady Amid Uncertainty
Oil prices were steady on Tuesday, following a bump the previous day when fresh U.S. sanctions imposed on Iran increased concerns that supply might tighten, as global refining margins remained strong. The uncertainty surrounding demand growth and the impact of new sanctions on oil markets continued to influence prices. In the short term, crude oil appears to be looking for a base.
- The ongoing tensions between the United States and Iran may lead to further volatility in oil markets, potentially affecting not only global energy supply but also the broader economy.
- How will the eventual lifting of U.S. sanctions on Iranian crude exports impact the stability of the global oil market?