Oil Steady as Tariff Uncertainty Keeps Investors on Edge
Oil prices held steady on Monday as concern over the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC+ producers, cooled investor appetite for riskier assets. Brent crude was down 11 cents at $70.25 a barrel by 0856 GMT. The ongoing tariff uncertainty has created market volatility, with oil prices experiencing their seventh consecutive weekly loss.
- This market instability highlights the growing interconnectedness of global commodity markets, where policy decisions in one country can have far-reaching consequences for producers and consumers worldwide.
- How will investors respond when the International Energy Agency releases its monthly reports on demand and supply forecasts, potentially bringing new insights into the impact of U.S. tariffs on the oil market?