Crude oil prices began the week positively, rebounding after three weeks of declines, with Brent reaching $75.10 and WTI at $71.40. Increased U.S. crude inventories and tariffs imposed by Trump have contributed to market volatility. In reaction to U.S. tariffs on steel and aluminum, China implemented retaliatory tariffs on U.S. oil and gas, further impacting supply and costs for extraction infrastructure. The interaction of trade tensions and inflationary fears has led investors to seek oil as a safe investment, identifying challenges ahead for the oil market amid geopolitical concerns.
Crude oil prices rebounded this week as market volatility increased due to new tariffs imposed by the U.S., despite prior losses from increased crude inventories.
Inflationary fears and trade tensions have driven investors to see oil as a safe-haven, causing a shift in trading strategies.
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