Global Oil Remains Stable Despite Greenland Issues
World oil prices have remained stable and have tended to fluctuate significantly recently as geopolitical tensions over Greenland have eased and the market is now focused on global supply conditions. US President Donald Trump reportedly refrained from threatening significant tariffs against European countries over the Greenland purchase issue, after reaching a framework agreement that eased market concerns.
Traders are also closely monitoring the supply and demand outlook from international energy agencies. The International Energy Agency (IEA) still projects that global oil supply will likely exceed demand in 2026, although demand growth is slightly higher than previously expected.
In the futures market, US crude benchmark West Texas Intermediate (WTI) and European Brent crude are moving within a moderate range without any sharp spikes. The previous surge triggered by geopolitical concerns has now begun to subside following clarification of US policy and signals of compromise with Europe.
Supply issues from various regions are also of concern to market participants. Production in Kazakhstan, as well as the return of supplies from Venezuela, are being closely monitored as they could affect the amount of oil flowing to the global market.
With oil stock levels under constant monitoring and geopolitical tensions easing, many analysts expect oil prices to remain stable in the near term, but remain vulnerable to rapid fluctuations in the event of supply disruptions or new trade policies. (az)
Source: Newsmaker.id
