Today’s market analysis on behalf of Mhd Ghaith Almounir CEO of Ebnlsooq Financial Consulting and Marketing
Crude oil futures could remain volatile following an increase in U.S. crude stockpiles and concerns over the impact of tariffs on global demand. The rise in inventories adds bearish pressure, indicating potential oversupply in the market. Meanwhile, tariff worries, particularly regarding Europe and China, may slow economic growth and reduce fuel demand, further weighing on prices. The outlook remains cautious, with these factors likely limiting significant price recovery in the near term.
While geopolitical developments in the Middle East could weigh on prices, concerns about supply flows persist, notably after a Ukrainian drone attack disrupted oil exports from Kazakhstan. Whilst supply disruptions could provide some support to crude prices, the overall market sentiment remains bearish due to economic concerns. The balance between these opposing factors suggests a mixed outlook for crude prices in the near term.
