<\/p>\n\n\n\n
Oil prices began the week on a positive note, bolstered by data showing cooling U.S. inflation<\/strong>, which revived hopes for monetary policy easing<\/strong> in 2024, supporting global economic growth and oil demand.<\/p>\n\n\n\n Brent crude<\/strong> futures rose $0.26<\/strong> (0.4%) to $73.20<\/strong> per barrel, while West Texas Intermediate (WTI)<\/strong> crude climbed $0.31<\/strong> (0.5%) to $69.77<\/strong> per barrel as of early trading Monday.<\/p>\n\n\n\n Analyst Tony Sycamore<\/strong> of IG Markets noted that risk assets, including crude oil and U.S. equity futures, have started the week on firmer footing due to easing inflation concerns. He added that the U.S. Senate’s resolution of a brief government shutdown<\/strong> over the weekend also contributed to market optimism.<\/p>\n\n\n\n This recovery follows a challenging week for oil markets, where prices dropped over 2%<\/strong> on worries about global economic growth<\/strong> and constrained oil demand. The Federal Reserve\u2019s cautious outlook<\/strong> and warnings from Sinopec, Asia\u2019s top refiner, forecasting China\u2019s oil demand peaking by 2027<\/strong>, weighed on sentiment.<\/p>\n\n\n\n Fears over European oil supply were alleviated after reports that the Druzhba pipeline<\/strong>, a critical conduit for Russian and Kazakh oil to Hungary<\/strong>, Slovakia<\/strong>, the Czech Republic<\/strong>, and Germany<\/strong>, had resumed operations.<\/p>\n\n\n\n The pipeline, which was halted last Thursday due to technical issues at a Russian pumping station, resumed shipments on Saturday, according to Belarus’ BelTa<\/strong> state news agency. Hungarian Foreign Minister Peter Szijjarto<\/strong> confirmed on Sunday that supplies to Hungary had restarted. The pipeline was previously delivering around 300,000 barrels per day<\/strong> of crude.<\/p>\n\n\n\n In a separate development, U.S. President Donald Trump<\/strong> on Friday called on the European Union<\/strong> to increase imports of U.S. oil and gas<\/strong> or face potential tariffs on its exports. The European Commission<\/strong> responded by expressing willingness to discuss strengthening energy sector ties with the U.S.<\/p>\n\n\n\n Trump also raised tensions with Panama<\/strong>, threatening to reassert U.S. control over the Panama Canal<\/strong>, accusing the nation of charging excessive rates for its use. Panamanian President Jose Raul Mulino<\/strong> issued a sharp rebuke in response.<\/p>\n\n\n\n Adding to supply dynamics, the Baker Hughes oil rig count<\/strong> rose by one to 483<\/strong> last week, the highest level since September. This signals increasing U.S. crude production capacity, which could weigh on prices in the medium term.<\/p>\n\n\n\n While easing inflation and supply concerns provide a short-term boost, broader economic growth uncertainties and geopolitical risks continue to cloud the outlook for oil markets. Investors are closely watching monetary policy developments<\/strong>, China\u2019s demand trajectory<\/strong>, and geopolitical tensions<\/strong>, particularly with the U.S. pressing its trade and energy agenda globally.<\/p>\n","protected":false},"excerpt":{"rendered":" Oil prices began the week on a positive note, bolstered by data showing cooling U.S. inflation, which revived hopes for monetary policy easing in 2024, supporting global economic growth and oil demand. Brent crude futures rose $0.26 (0.4%) to $73.20 per barrel, while West Texas Intermediate (WTI) crude climbed $0.31 (0.5%) to $69.77 per barrel …<\/p>\n","protected":false},"author":9,"featured_media":60920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6885,6936,11014],"class_list":["post-109795","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-oil-prices","tag-us-crude-oil-inventories"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=109795"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109795\/revisions"}],"predecessor-version":[{"id":109797,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109795\/revisions\/109797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/60920"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=109795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=109795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=109795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Market Sentiment Supported by Inflation Data and Shutdown Resolution<\/h3>\n\n\n\n
Supply Concerns Ease as Druzhba Pipeline Resumes Operations<\/h3>\n\n\n\n
U.S. Pressures EU on Energy Imports<\/h3>\n\n\n\n
Oil Rig Count Rises in the U.S.<\/h3>\n\n\n\n
Outlook for Oil Markets<\/h3>\n\n\n\n