TradingView trading information has traded relatively flat for global economic concerns to increase global economic concerns.
Brent Crude reduced futures for $ 63,435, decreased by 0.28%, WTI raw futures from 0637 UTC to $ 59.59 to $ 59.59 to $ 59.59. Both benchmarks decreased by 0.3% at Tuesday.
Market participants are cautious about the impact of US trade policy to change global economic growth. Limits recently announced tariff freedoms for oil, gas and elegant products restrictive of the energy sector.
Fundamental Outlooks continue to put pressure as soon as the requirement increase in increases significantly lower. The International Energy Agency reduced the growth forecast for global oil demand for 2025 to 730,000 barrels per day.
This basic inspection expresses 300,000 BPD reduction from previous forecasts and the slowest growth rate in five years. The agency warned that the oil markets should be “clash” for volatility, such as the start of trade talks during the 90-day tariff violation.
In March, the global oil supply increased 590,000 BPD to 103.6 million BPD in March and contributed to 1010. Non-OPEC + manufacturers, both monthly and annual production earnings, complicate the effort to balance OPEC’s market.
Kazakhstan’s speech reached 1.8 million barrels per day after the expansion of the Tengiz oil field. Eight OPEC + Members plan to increase May three times, add 411,000 BPD to global supply.
The crude oil market is facing pressure
China’s raw imports increased by about 5% in March, reached the highest level since August 2023. Although Iran oil supplies strengthen US sanctions, Iran has significantly contributed to this increase.
Basic financial institutions have been revised to lower price forecasts in response to change market conditions. HSBC reduced Brent forecast for 2025 for $ 68.5, while Goldman Sachs worth $ 66 for the same period.
More pessimistic worldview Brent suggests that trade voltages can trade between $ 40-60 when the tension increases. The technical indicators remain in a brent raw consolidation sample, after reducing the significant price of April.
The market is highly trading over $ 63, but resists $ 66.42. WTI Crude has followed the 60 dollars after breaking long-term support at the beginning of this month.
Oil ETFs showed a mixed performance on Tuesday, and 0.27% of the US Oil Fund was closed. In the reverse, the volume of volume, which is expected that some traders have expected to reduce the price.
The market focus is now directed to inventory reports from the American Oil Institute and Energy Information.
Traders expect signs of recovery or supply of demand that can stabilize prices. Until then, oil markets remain sensitive to the development of trade policy and economic growth expectations.
