Crude oil futures exhibited stability during the Asian session despite looming volatility from various factors. Uncertainties surrounding U.S. trade policies, especially concerning tariffs, are causing caution among market participants. Since the U.S. is the largest oil consumer globally, trade tensions may negatively influence crude oil demand and prices. Additionally, OPEC+'s decision to increase output raises concerns about oversupply, especially if non-OPEC production rises and global growth slows. Geopolitical issues, notably relating to Iran, also pose risks, with U.S. actions potentially affecting global supply and creating further market unpredictability.
Crude oil prices are under pressure from uncertainties in U.S. trade policy and potential oversupply due to OPEC+ output increases.
Geopolitical tensions surrounding Iran may introduce volatility, affecting both the supply of crude oil and overall market sentiment.
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