Oil prices rose after Trump's new statements: analysts predicted how global oil markets will change further

The unstable U.S. trade policy is creating uncertainty in global oil markets, and on Monday, OPEC lowered its demand forecast for the first time since December.
Oil prices rise

Oil prices have increased due to new proposals by U.S. President Donald Trump regarding tariff exemptions, as well as the resumption of crude oil imports by China amid expectations of reduced supply from Iran.

Brent crude futures rose by 12 cents, or 0.2%, to $65 per barrel, while U.S. West Texas Intermediate climbed by 13 cents, or 0.2%, to $61.66.

"Trump allowed tariff exemptions for electronics and signaled a possible easing of car tariffs, which is seen as a retreat from previously announced import duties. This slightly eased pressure on risk assets, including oil," said independent market analyst Tina Teng.

"However, the rise in stock markets and growth-sensitive commodities raises skepticism, as his policies remain unpredictable."

In another twist in the trade war, Trump announced he was considering altering the 25% tariffs imposed on car and auto parts imports from Mexico, Canada, and other countries.

On Friday, the Trump administration announced that it would exempt smartphones, computers, and some other electronic goods—mostly imported from China—from tariffs. This contributed to a slight increase in oil prices on Monday.

On Sunday, Trump stated that he would announce a tariff rate on semiconductor imports during the week. According to Monday’s Federal Register, the administration launched an investigation into semiconductor imports on April 1.

"The market is reacting to rapid changes in tariff policy while also considering nuclear talks between the U.S. and Iran," read Tuesday’s analysis note from ING.

"Clearly, market attention is focused more on tariffs and how they will affect oil demand."

U.S. Energy Secretary Chris Wright said on Friday that the United States could completely halt Iranian oil exports as part of Trump’s pressure campaign on Tehran over its nuclear program.

Prices were also supported by Monday’s data showing that China’s crude oil imports in March rose nearly 5% compared to last year, as shipments from Iran surged in anticipation of tightened U.S. sanctions.

Source: Reuters.

Latest news:

Let's remember Politeka wrote, Trump Gives Europe an Ultimatum on Which Communication Technologies to Use.

Politeka also informed, Rubio and Kellogg urges Trump to take a tougher stance on Moscow and Kremlin demands.

Published:

“A Traditional Period for Stockpiling Weapons”: Expert Explains Whether the Energy Truce Made Sense

War on Two Fronts: Expert Describes Pressure on Ukraine in Negotiations

Putin’s Middle Eastern epic: an expert explains how quickly the Kremlin is losing allies

Production and Consumption: Expert Explains Why Inflation Exists in Ukraine

The EU Bans Supplies of Russian Gas: An Expert Assesses How Long This Decision Will Last

The Countdown to the End of the Russian–Ukrainian War Has Begun, Says a Military Expert on the Energy Truce

Oil Prices and Strikes on Refineries: Expert Names a Likely Reason for an Energy Truce

Light, Cold, and Missile Strikes: Expert Assesses Progress in Peace Talks

Midterm elections and the desire for a quick victory: an expert assessed whether the United States will really withdraw from peace negotiations

Behind-the-Scenes Diplomacy: Expert Assesses Whether Ukraine Could Still Receive Tomahawks

“We have already agreed to freeze the war along the front line – that is our compromise,” political strategist on the negotiations

The Minsk Model of Ceasefire Monitoring Was Discussed, with Adjustments — Political Scientist on Talks in the UAE

Free Trade Zone in Exchange for a Peace Agreement: Expert Explains What the U.S. Is Offering Ukraine

“Flies at an enormous speed”: an expert explained the danger of Russian Kh-22 missiles

“Economic mechanisms are the quintessence of Ukrainians”: an expert explains why the Singapore scenario is impossible here

“They simply had to agree with the Americans”: expert says the U.S. has begun pressuring Russia in negotiations

Europeans and Russians Have a Goal on the Territory of Ukraine: An Expert Spoke About Political Goals in the War

“A catastrophe involving nuclear reactors may occur”: expert warns about the consequences of Russian strikes

“Another plus Trump has scored for himself”: an expert explains why the U.S. threatened Greenland

Show more