Crude oil prices may face continued pressure and volatility despite last week’s rally, highlighting concerns over demand levels and potential price corrections in the market.
Traders are closely watching economic developments in major oil importing countries, as rising supply from non-OPEC nations alongside weak demand from China may further impact oil prices.
Expectations of tightening supplies from Russia and Iran due to Western sanctions might support crude prices, suggesting a balancing effect amid geopolitical factors.
The recent increase in Saudi Arabia's oil prices for Asia, the first rise in three months, indicates stronger demand for Middle Eastern oil amidst fluctuating market conditions.
#crude-oil-prices #market-volatility #supply-and-demand #oil-importing-countries #geopolitical-factors
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