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Oil Steadies on US Trade Deal Optimism, Diesel Tightness
UNITED STATES, JUL 25 – U.S. crude inventories fell by 3.2 million barrels, exceeding expectations, while trade talks and geopolitical moves influence global oil supply and demand dynamics.
- West Texas Intermediate futures traded around $66.30 during Asian hours, supported by inventory drops and geopolitical supply factors.
- Trade policy developments bolstered optimism, Donald Trump announced a 15% tariff deal with Japan earlier this week, and two European diplomats said the U.S. and EU are set to impose 15% tariffs on most imports.
- U.S. crude inventories fell by 3.2 million barrels, exceeding forecasts, and five Reuters sources said Chevron may resume Venezuelan operations under U.S. authorizations, creating supply uncertainty.
- WTI futures pushed above their 50-day moving average, triggering technical buying, despite Chevron resuming Venezuelan pumping, market analysts say.
- Looking ahead, as July sees WTI prices hold amid diesel tightness offset by expected OPEC+ production increases, market participants focus on manufacturing and employment data to gauge oil demand.
19 Articles
19 Articles
Oil Slips as Market Eyes Potential Venezuela Supply Boost
Oil traded slightly lower on Friday as traders weighed trade talk optimism and the potential of more oil supply from Venezuela.Friday, July 25th, 2025 ICE Brent futures remained rangebound as market participants weighed the impact of Venezuela’s potential return to the US markets, happening against the background of global macroeconomic worries subsiding a little, on the back of a US-Japan trade deal lauded by Donald Trump. OPEC+ could project a…
Oil steady as investors weigh trade optimism against potential Venezuelan supply increase
LONDON: Oil prices were steady on Friday, as trade talk optimism supported the outlook for both the global economy and oil demand, balancing news of the potential for more oil supply from Venezuela. © New Straits Times Press (M) Bhd
Brent and WTI Prices Edge Higher on Trade Optimism and Supply Concerns
Brent crude and West Texas Intermediate (WTI) prices rose slightly over the last 24 hours, driven by optimistic trade developments. According to the U.S. Energy Information Administration (EIA), U.S. crude inventories dropped by 3.2 million barrels, significantly exceeding analyst expectations of a 1.6 million barrel reduction. This sizable inventory draw boosted investor sentiment. Brent crude […]
Oil Prices Hold Steady Amid Trade Optimism And Venezuelan Supply Prospects » News.ng
Crude oil prices remained stable on Friday, buoyed by optimism surrounding international trade discussions, which helped balance concerns over increased oil output from Venezuela. Brent crude futures Friday afternoon edged up by 28 cents (0.4%) to reach $69.46 per barrel. Similarly, U.S. West Texas Intermediate (WTI) crude saw an increase of 27 cents (0.41%) to $66.30 per barrel. At these levels, Brent was on course for a 0.3% weekly gain, while…
Oil prices ease as negative economic news offsets trade optimism – Oil & Gas 360
(Investing) – NEW YORK -Oil prices eased on Friday on negative economic news from the United States and China and signs of growing supply despite optimism U.S. trade deals could boost global economic growth and oil demand in the future. Brent crude futures fell 32 cents, or 0.5%, to $68.86 a barrel by 11:02 a.m. EDT (1502 GMT), while U.S. West Texas Intermediate (WTI) crude fell 47 cents, or 0.7%, to $65.56. That put Brent down about 1% for the w
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