{"id":117306,"date":"2025-08-01T13:01:58","date_gmt":"2025-08-01T09:01:58","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=117306"},"modified":"2025-08-01T13:02:02","modified_gmt":"2025-08-01T09:02:02","slug":"oil-prices-stabilize-amid-tariff-uncertainty-heading-for-weekly-gains","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-prices-stabilize-amid-tariff-uncertainty-heading-for-weekly-gains\/08\/01\/market-updates\/","title":{"rendered":"Oil Prices Stabilize Amid Tariff Uncertainty, Heading for Weekly Gains"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p><strong>Current Price Movement<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Brent Crude<\/strong>: Up 19 cents (+0.26%) at <strong>$71.89<\/strong> a barrel<\/li>\n\n\n\n<li><strong>U.S. West Texas Intermediate (WTI)<\/strong>: Up 20 cents (+0.29%) at <strong>$69.46<\/strong> a barrel<\/li>\n\n\n\n<li><strong>Weekly Performance<\/strong>: Brent on course for a <strong>5% weekly gain<\/strong>, and WTI for a <strong>6.6% weekly gain<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Impact of U.S. Trade Tensions<\/strong>:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>U.S. Tariffs<\/strong>: Investors have focused on the impact of <strong>U.S. President Donald Trump&#8217;s tariffs<\/strong>, set to be enforced from <strong>August 1<\/strong>. These tariffs range from <strong>10% to 41%<\/strong> on imports from countries like <strong>Canada<\/strong>, <strong>India<\/strong>, and <strong>Taiwan<\/strong>.<\/li>\n\n\n\n<li><strong>Trade Deal Progress<\/strong>: Positive sentiment emerged as some countries secured trade deals, including <strong>the European Union<\/strong>, <strong>South Korea<\/strong>, <strong>Japan<\/strong>, and <strong>Britain<\/strong>. This progress has been seen as a <strong>key driver for oil price increases<\/strong> this week.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>U.S. Sanctions on Russian Oil<\/strong>:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Secondary Tariffs on Russian Crude<\/strong>: Trump threatened <strong>100% secondary tariffs<\/strong> on countries purchasing Russian crude in an attempt to pressure Russia to cease its war on Ukraine.\n<ul class=\"wp-block-list\">\n<li><strong>Impact<\/strong>: This raised concerns over oil supply disruptions, particularly on <strong>Russian seaborne oil exports<\/strong>. Analysts at <strong>JP Morgan<\/strong> highlighted that <strong>China<\/strong> and <strong>India<\/strong>, the second- and third-largest crude consumers, may risk <strong>2.75 million barrels per day<\/strong> of Russian oil exports.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Potential Economic Effects<\/strong>:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>While the tariffs have supported oil prices this week, there are <strong>concerns about economic growth<\/strong>. <strong>Rising tariffs<\/strong> could increase the cost of goods, leading to <strong>higher inflation<\/strong>, which might reduce demand for oil.<\/li>\n\n\n\n<li><strong>Inflation Data<\/strong>: Inflation figures from <strong>June<\/strong> showed that existing tariffs may already be pushing <strong>prices higher in the U.S.<\/strong>, which could impact demand for oil as the world\u2019s largest oil consumer.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market Outlook<\/strong>:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Investors are closely monitoring <strong>trade developments<\/strong>, with further progress on trade talks between the <strong>U.S. and China<\/strong> potentially offering additional support to oil prices.<\/li>\n\n\n\n<li>However, concerns over <strong>economic growth<\/strong> and the potential <strong>economic drag from tariffs<\/strong> remain, making the future trajectory of oil prices uncertain.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Current Price Movement: Brent Crude: Up 19 cents (+0.26%) at $71.89 a barrel U.S. West Texas Intermediate (WTI): Up 20 cents (+0.29%) at $69.46 a barrel Weekly Performance: Brent on course for a 5% weekly gain, and WTI for a 6.6% weekly gain. Impact of U.S. Trade Tensions: U.S. Tariffs: Investors have focused on the &hellip;<\/p>\n","protected":false},"author":9,"featured_media":77220,"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":[38,6827,49,36],"tags":[],"class_list":["post-117306","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117306","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=117306"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117306\/revisions"}],"predecessor-version":[{"id":117307,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117306\/revisions\/117307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/77220"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=117306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=117306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=117306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}