Your current location is:FTI News > Exchange Traders
Oil prices rise, boosted by US
FTI News2025-07-27 17:44:55【Exchange Traders】1People have watched
IntroductionWhat are the regular rankings of China foreign exchange platforms,How much does a foreign exchange company invest,International oil prices continued their upward trend in early Asian trading on Monday, supported by
International oil prices continued their upward trend in early Asian trading on What are the regular rankings of China foreign exchange platformsMonday, supported by multiple favorable factors, and market concerns about escalating trade tensions eased. Previously, U.S. President Trump announced a delay in the imposition of a 50% tariff on the EU until July 9th. This decision allowed extra time for U.S.-EU trade negotiations and bolstered market confidence in the short term.
At the time of writing, Brent crude futures were steady, priced at $64.95 per barrel, and U.S. WTI crude futures increased by 0.30% to $61.71 per barrel. Continuing Friday's gains, oil prices remain above key support levels.
Trump's previous tariff threats had sparked widespread market concerns, and the extension decision is seen as a temporary ease in U.S.-EU trade tensions. The EU previously stated the need for more time to advance the agreement process, and Trump promptly provided an additional window, effectively soothing global trade tension.
Meanwhile, geopolitical tensions also provided support. Although progress in U.S.-Iran nuclear negotiations was limited, it was enough to allay concerns about a massive return of Iranian crude to the market. Monday coincided with the last trading day before the U.S. Memorial Day holiday, with some covering of short positions also driving oil prices higher.
On the supply side, signs of contraction in U.S. oil company production capacity are evident. According to energy industry data, the number of active oil rigs in the U.S. has fallen to 465, the lowest level since November 2021. This change reflects that under the current price environment, some companies are starting to control capital expenditure and restrict supply expansion.
However, the upward momentum in the oil market also faces potential challenges. OPEC+ is expected to announce an increase in daily production by more than 410,000 barrels from July at next week's meeting. In addition, the voluntary reduction quota of 2.2 million barrels per day could be entirely lifted by the end of October. The group has already incrementally increased production by about 1 million barrels per day from April to June, adding variables to subsequent market balance.
From a technical perspective, WTI crude prices have broken through the short-term moving average resistance, and technical indicators show strengthening bullish momentum. Prices are currently approaching the critical resistance level of $62. If successfully breached, further gains to $64 are expected; conversely, if retraced, $60 will become the primary support.
Overall, the oil market is maintaining a strong short-term volatility pattern. The market is closely watching the results of the OPEC+ meeting and further developments in U.S.-EU trade negotiations to gauge the direction of future price trends.
Risk Warning and DisclaimerThe market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.
Very good!(8)
Related articles
- AXEL PRIVATE MARKET Broker Review: High Risk (Illegal Business)
- The rise in oil prices, OPEC+ cuts, and U.S. sanctions heighten supply tightening expectations.
- Gold fell as trade tensions eased and the dollar rose.
- After reaching a record high, gold shows risk signals of a pullback.
- Market Insights: Mar 21, 2024
- Oil prices remain stable, pressured by the prospects of the US
- Gold retraced from its high but held the 3300 mark.
- The Chicago futures market is mixed, with soybean prices rising and corn and wheat under pressure.
- Duhani Capital Review: Suspected Fraud
- OPEC+ move to end cuts sparks supply fears, oil prices hit multi
Popular Articles
Webmaster recommended
Is TradingLink Trustworthy or a Scam?
U.S. tariff threat sparks copper import surge and price spike.
Oil prices have plummeted, falling below $60, and the market still faces great uncertainty.
Gold rebounds as Trump abandons plans to dismiss Powell, boosting market sentiment.
NAB expects to lay off 222 employees as the banking job cuts wave hits Oceania.
U.S. crude oil inventories unexpectedly surged, causing WTI oil prices to retreat under pressure.
The silver market has stabilized, but caution is advised due to economic uncertainty.
The rise in oil prices, OPEC+ cuts, and U.S. sanctions heighten supply tightening expectations.