• Thu, Mar 5, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

29 May 2025 16:33  |

Oil Rises for 2nd Session

Brent crude oil futures rose over 1% to above $65.5 per barrel on Thursday, supported by a US court ruling that blocked many of President Trump’s global tariffs, calling them illegal. The decision eased market fears about the impact of tariffs on global growth and oil demand.

While the Trump administration plans to appeal, the move boosted risk appetite across markets. Oil also found support from geopolitical tensions, as Libya’s eastern government threatened to halt production after a militia stormed the state oil company’s HQ, underscoring risks to supply.

Despite recent gains, oil prices remain under pressure from concerns about OPEC+ production increases and the broader impact of Trump’s trade policies. OPEC+ is set to meet Saturday and may approve more supply hikes for July. Meanwhile, new US sanctions on Russia are being considered, though their impact is seen as limited so far. US crude inventories fell by 4.2 million barrels last week, according to API data.

Source: Trading Economics

Related News

OIL

Oil Continues Gains as Lower Russian Flows Offset Trump Tar...

Oil extended its biggest gain in nearly four weeks as tighter Russian crude supplies overshadowed concerns about the impact o...

11 February 2025 14:35
OIL

Oil Drops as Dollar Surges After Rate Cut

Oil fell as expectations for fewer interest-rate cuts by the Federal Reserve next year boosted the dollar. February West Te...

19 December 2024 07:12
OIL

Oil Drops as Signs of Tariff Ease Fuel Uncertainty

Oil was pushed lower after U.S. Commerce Secretary Howard Lutnick said the Trump administration could lift some tariffs on Me...

5 March 2025 07:48
OIL

Oil Drops as Signs of Tariff Reductions Fuel Uncertainty

Oil was pushed lower after U.S. Commerce Secretary Howard Lutnick said the Trump administration could lift some tariffs on Me...

5 March 2025 06:46
BIAS23.com NM23 Ai