Crude oil
Crude oil prices are trading slightly lower as the European session begins, with markets adjusting to the reduced likelihood of a broader Middle East conflict following news of a ceasefire agreement between Israel and Hezbollah. Geopolitical risk had been a critical driver of oil prices for an extended period, as concerns over escalating tensions along Lebanon’s southern border fueled fears of disruptions to crude flows from the Gulf, the world’s primary export region. With these supply concerns easing, market attention has shifted back to demand, which remains under pressure. The prospect of additional tariffs from the incoming Trump administration potentially dampening economic activity compounds ongoing worries about slowing growth in China, the world’s largest oil importer, further weighing on the outlook for crude oil.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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