{"id":113954,"date":"2025-04-23T13:51:16","date_gmt":"2025-04-23T09:51:16","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=113954"},"modified":"2025-04-23T13:51:19","modified_gmt":"2025-04-23T09:51:19","slug":"oil-prices-rise-over-1-as-iran-sanctions-trump-comments-and-u-s-crude-draw-support-market","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-rise-over-1-as-iran-sanctions-trump-comments-and-u-s-crude-draw-support-market\/04\/23\/market-updates\/","title":{"rendered":"Oil Prices Rise Over 1% as Iran Sanctions, Trump Comments, and U.S. Crude Draw Support Market"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Oil prices climbed more than 1% on Wednesday, extending gains for a second consecutive session, as geopolitical tensions, tightening supply data, and a shift in tone from U.S. President Donald Trump lifted investor sentiment.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent crude<\/strong> rose <strong>$1.00<\/strong>, or <strong>1.5%<\/strong>, to <strong>$68.44<\/strong> per barrel by <strong>06:40 GMT<\/strong><\/li>\n\n\n\n<li><strong>West Texas Intermediate (WTI)<\/strong> gained <strong>$0.99<\/strong>, or <strong>1.6%<\/strong>, to <strong>$64.66<\/strong> per barrel<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Fresh U.S. Sanctions on Iran Raise Supply Concerns<\/strong><\/h3>\n\n\n\n<p>The gains were spurred in part by the <strong>U.S. Treasury\u2019s new sanctions<\/strong> on Iranian oil and LPG exports. The U.S. blacklisted <strong>Seyed Asadoollah Emamjomeh<\/strong> and his affiliated network, which is accused of <strong>facilitating hundreds of millions of dollars in Iranian crude and LPG shipments<\/strong> to international markets.<\/p>\n\n\n\n<p>These sanctions tighten the already constrained Iranian oil supply, <strong>reviving fears of a potential shortfall in global energy markets<\/strong> if geopolitical frictions escalate further.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Crude Inventories Fall Sharply, API Data Shows<\/strong><\/h3>\n\n\n\n<p>In parallel, industry data released Tuesday by the <strong>American Petroleum Institute (API)<\/strong> showed a <strong>4.6 million-barrel draw<\/strong> in U.S. crude inventories last week\u2014far exceeding analysts&#8217; expectations of an 800,000-barrel decline. The draw suggests <strong>stronger-than-expected demand or tightening supply<\/strong>.<\/p>\n\n\n\n<p>Traders now await <strong>official U.S. government data<\/strong> from the <strong>Energy Information Administration (EIA)<\/strong>, due at <strong>10:30 a.m. ET (14:30 GMT)<\/strong> for confirmation.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Trump Calms Market with Softer Tone<\/strong><\/h3>\n\n\n\n<p>Also fueling optimism:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Trump <strong>backtracked on recent threats to fire Federal Reserve Chair Jerome Powell<\/strong>, which had previously unsettled markets.<\/li>\n\n\n\n<li>He <strong>hinted at reducing tariffs on Chinese imports<\/strong>, although clarified that tariffs would not drop to zero.<\/li>\n<\/ul>\n\n\n\n<p>Trump\u2019s softened rhetoric gave oil bulls more confidence that <strong>a U.S.-China trade deal may be in sight<\/strong>, potentially easing macroeconomic pressures and <strong>stimulating global demand<\/strong>.<\/p>\n\n\n\n<p>Meanwhile, U.S. <strong>Treasury Secretary Scott Bessent<\/strong> said in a private meeting that while talks with China hadn\u2019t started yet, a <strong>&#8220;de-escalation is likely&#8221;<\/strong>, even if progress remains slow.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Outlook<\/strong><\/h3>\n\n\n\n<p>Oil markets remain <strong>sensitive to any developments in trade and geopolitical relations<\/strong>, especially between the U.S., China, and Iran. If the U.S.-China negotiations show tangible progress and sanctions on Iran escalate further, <strong>Brent and WTI could push toward $70 and $66 respectively<\/strong> in the near term.<\/p>\n\n\n\n<p>Still, analysts warn that <strong>demand risks persist<\/strong> due to lingering trade uncertainty, potential central bank volatility, and fragile global growth. All eyes now turn to the <strong>EIA report<\/strong> for the next key market-moving catalyst.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices climbed more than 1% on Wednesday, extending gains for a second consecutive session, as geopolitical tensions, tightening supply data, and a shift in tone from U.S. President Donald Trump lifted investor sentiment. Brent crude rose $1.00, or 1.5%, to $68.44 per barrel by 06:40 GMT West Texas Intermediate (WTI) gained $0.99, or 1.6%, &hellip;<\/p>\n","protected":false},"author":9,"featured_media":105619,"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":[38,36],"tags":[],"class_list":["post-113954","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113954","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=113954"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113954\/revisions"}],"predecessor-version":[{"id":113955,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113954\/revisions\/113955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/105619"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=113954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=113954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=113954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}