Oil prices rise amid Middle East tensions and supply fears

Ricardo Evangelista ActivTrades

WTI crude oil prices reached a two-month high in early Thursday trading before retreating slightly from those gains. Tensions in the Middle East have flared once again, with reports suggesting that Israel may be preparing to launch an attack on Iran—an escalation that could threaten supply from the world’s most important oil-producing region. Prices also found support from the latest round of US-China talks. While the outcome was ambiguous, it was not overtly negative, helping to improve the outlook for global oil demand. In addition, the latest US inventory data revealed a larger-than-expected decline in crude stocks, reinforcing concerns over tightening supply. Against this backdrop—marked by a heightened risk of supply disruptions and a modest improvement in demand projections—the path of least resistance for oil prices appears to be to the upside.

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Author

Ricardo Evangelista

ActivTrades

Ricardo Evangelista is a seasoned financial markets professional with extensive experience in trading, analysis, and market strategy.

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