{"id":114091,"date":"2025-04-28T11:35:47","date_gmt":"2025-04-28T07:35:47","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=114091"},"modified":"2025-04-28T11:35:50","modified_gmt":"2025-04-28T07:35:50","slug":"oil-prices-edge-higher-but-remain-pressured-by-trade-and-supply-concerns","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-edge-higher-but-remain-pressured-by-trade-and-supply-concerns\/04\/28\/market-updates\/","title":{"rendered":"Oil Prices Edge Higher but Remain Pressured by Trade and Supply Concerns"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Oil prices <strong>inched higher<\/strong> on Monday, but gains remained modest as <strong>uncertainty over U.S.-China trade talks<\/strong> and the <strong>prospect of increased OPEC+ output<\/strong> continued to weigh on the outlook for global growth and fuel demand.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent crude futures<\/strong> rose <strong>21 cents<\/strong>, or <strong>0.3%<\/strong>, to <strong>$67.08<\/strong> a barrel by <strong>0742 GMT<\/strong>.<\/li>\n\n\n\n<li><strong>U.S. West Texas Intermediate (WTI)<\/strong> crude gained <strong>24 cents<\/strong>, or <strong>0.4%<\/strong>, to <strong>$63.26<\/strong> a barrel.<\/li>\n<\/ul>\n\n\n\n<p>Both benchmarks marked a <strong>third consecutive session of small gains<\/strong>, but <strong>sentiment remained fragile<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">OPEC+ Expected to Propose Faster Output Hikes<\/h3>\n\n\n\n<p>Some members of <strong>OPEC and allies (OPEC+)<\/strong> are reportedly preparing to <strong>recommend accelerating oil output hikes<\/strong> for a second straight month when they meet on <strong>May 5<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This expectation of <strong>rising supply<\/strong> has <strong>pressured oil markets<\/strong>, especially given <strong>concerns about global demand<\/strong> amid economic uncertainty.<\/li>\n\n\n\n<li>Last week, both Brent and WTI <strong>fell more than 1%<\/strong>, driven by <strong>oversupply fears<\/strong> and <strong>trade-related growth concerns<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Mixed Signals from U.S. and China on Trade<\/h3>\n\n\n\n<p>The oil market has been <strong>rattled by conflicting reports<\/strong> over the status of <strong>U.S.-China trade negotiations<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>President Donald Trump<\/strong> suggested that talks were ongoing.<\/li>\n\n\n\n<li>However, <strong>U.S. Treasury Secretary Scott Bessent<\/strong> on Sunday <strong>did not confirm<\/strong> any active negotiations.<\/li>\n\n\n\n<li>Meanwhile, <strong>Beijing has denied<\/strong> that discussions were taking place.<\/li>\n<\/ul>\n\n\n\n<p>The <strong>lack of clarity<\/strong> adds to worries that the <strong>protracted trade war<\/strong> could further <strong>slow global economic growth<\/strong>, curbing energy demand.<\/p>\n\n\n\n<p>At the recent <strong>IMF and World Bank Spring Meetings<\/strong>, several officials said the <strong>U.S. administration\u2019s stance on trade remains divided<\/strong>, contributing to broader market unease.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Geopolitical Developments<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Iran nuclear talks<\/strong> between Tehran and Washington continue this week in <strong>Oman<\/strong>.\n<ul class=\"wp-block-list\">\n<li>Iranian Foreign Minister <strong>Abbas Araqchi<\/strong> expressed caution, saying he remained <strong>&#8220;extremely cautious&#8221;<\/strong> about the chances of reaching an agreement.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>A <strong>deadly explosion<\/strong> at <strong>Iran\u2019s Bandar Abbas port<\/strong> over the weekend, killing at least <strong>40 people<\/strong> and injuring <strong>over 1,200<\/strong>, raised new concerns over <strong>regional stability<\/strong>.<\/li>\n\n\n\n<li>In Europe, <strong>Trump and Ukrainian President Volodymyr Zelenskiy<\/strong> met at the <strong>Vatican<\/strong>, pressing for <strong>progress in peace talks<\/strong> between <strong>Russia and Ukraine<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Summary<\/h3>\n\n\n\n<p>Oil markets are currently <strong>caught between<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Support<\/strong> from geopolitical risks (Middle East tensions, Russia-Ukraine talks),<\/li>\n\n\n\n<li>and <strong>headwinds<\/strong> from potential <strong>OPEC+ oversupply<\/strong> and <strong>economic uncertainty<\/strong> due to <strong>prolonged U.S.-China trade tensions<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>Investors will closely watch:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The outcome of the <strong>OPEC+ meeting on May 5<\/strong>,<\/li>\n\n\n\n<li>Progress or setbacks in <strong>U.S.-China trade relations<\/strong>, and<\/li>\n\n\n\n<li><strong>Iran nuclear talks<\/strong> and broader <strong>Middle East developments<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Conclusion:<\/strong><br>While oil prices have seen some recovery, <strong>major headwinds remain<\/strong>, making near-term <strong>price volatility<\/strong> likely as these global factors unfold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices inched higher on Monday, but gains remained modest as uncertainty over U.S.-China trade talks and the prospect of increased OPEC+ output continued to weigh on the outlook for global growth and fuel demand. Brent crude futures rose 21 cents, or 0.3%, to $67.08 a barrel by 0742 GMT. U.S. West Texas Intermediate (WTI) &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-114091","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\/114091","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=114091"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114091\/revisions"}],"predecessor-version":[{"id":114092,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114091\/revisions\/114092"}],"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=114091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}