After two days of decline, crude oil futures are finding some stabilization amid supply disruption concerns linked to President Trump's reversal of Chevron's license in Venezuela. This restriction on Venezuelan crude exports tightens global oil supplies. Despite this, unexpected declines in U.S. crude stockpiles and increased refining activity indicate a potential rebalancing in the market. However, fears about weakening demand and geopolitical tensions, particularly from the Russia-Ukraine situation, continue to introduce uncertainty, impacting market sentiment and crude prices.
Crude oil futures have begun to stabilize following two days of decline, largely due to geopolitical events that are impacting supply levels significantly.
The unexpected reduction in U.S. crude stockpiles and increasing refining activities hints at a market rebalancing, despite ongoing concerns over fuel demand.
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