Oil prices declined on Monday as investor concerns grew over U.S. import tariffs impacting global economic growth and fuel demand. Increased output from OPEC+ also contributed to the bearish sentiment.
Brent crude slipped 0.4% to $70.11 per barrel, while U.S. West Texas Intermediate (WTI) fell 0.4% to $66.76. WTI posted its seventh consecutive weekly decline, the longest since November 2023, and Brent marked its third straight week of losses. The downturn followed U.S. President Donald Trump's tariff policies, which raised tensions with key oil suppliers Canada, Mexico, and China. China retaliated with tariffs on U.S. and Canadian agricultural goods.
Market uncertainty deepened with discussions on potential U.S. sanctions relief on Russia’s energy sector, should Russia agree to a ceasefire in Ukraine. At the same time, Trump hinted at further sanctions if Russia fails to comply.
OPEC+ confirmed plans to increase oil production starting in April, but Russia’s Deputy Prime Minister Alexander Novak suggested a potential policy reversal if market conditions warrant. Meanwhile, Trump's push to negotiate with Iran over its nuclear ambitions faced resistance, as Iran’s Supreme Leader Ayatollah Ali Khamenei dismissed external pressure. The U.S. also revoked a waiver allowing Iraq to pay Iran for electricity, intensifying economic restrictions on Tehran.
Despite ongoing geopolitical risks, analysts see potential support for WTI around $65-$62, predicting a possible rebound to $72. Investors remain cautious as oil markets navigate supply shifts and macroeconomic pressures.


Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Thailand Inflation Remains Negative for 10th Straight Month in January
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 



