Brent and West -Texas Intermediate Rudde climbed more than $ 1 on Friday after the American energy secretary Chris Wright said that the United States could end Iran’s oil export as part of an attempt to bring the Islamic Republic about its nuclear program.
Brent Crude Futures settled at $ 64.76 per barrel, an increase of $ 1.43 or 2.26%. US West Texas Intermediate Crude finished at $ 61.50 per barrel, an increase of $ 1.43 or 2.38%. The comments from Wright offered Opwing Momentum for oil prices, after volatile price fluctuations this week as the new tariff regime of US President Donald Trump forced traders to re -assess the geopolitical risks with which the raw market is confronted.
China announced on Friday that from Saturday it will impose a rate of 125%on American goods, an increase in the previously announced 84%, after Trump has raised rates against China on Thursday to 145%.
This week, Trump paves heavy rates at dozens of other trading partners, but a long -term dispute between the two largest economies in the world will probably reduce global trade volumes and disrupt trade routes, weigh on global economic growth and reduce the demand for oil.
According to Kaynat Chainwala, AVP-COMDITY Research, Kotak Securities: “WTI crude oil erased all the profit from the previous session, which was powered by the announcement of President Trump by a break of a 90-day break of a 90-day pause for different razing mutual mutual mutual mutual match”
As an addition to the Bearish Outlook, the Energy Information Administration (EIA) has reduced its global growth in the oil demand for 2025 to 900,000 barrels per day, with 400,000 barrels of its earlier estimate. WTI crude oil remains under pressure and transactions near $ 60 per barrel because the American rates on Chinese input were further increased to 145%, increased fear of deeper retribution and a potential global economic delay, “Chainwala added
