Oil futures are experiencing instability amid geopolitical tensions in the Middle East and a weak demand outlook, with market participants concerned about supply and demand dynamics.
Recent price drops were prompted by lower demand forecasts and reassurances about no strikes on Iranian facilities by Israel, which temporarily eased supply disruption fears.
Chinese fiscal policy signals are critical for oil demand expectations, as uncertainties surrounding China’s economic recovery significantly impact global demand forecasts from OPEC and IEA.
The combination of geopolitical tensions and poor demand expectations leads to a volatile outlook for oil prices, with market participants remaining cautious and focusing on upcoming U.S. inventory data.
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