• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days They pay YOU to TAKE Natural Gas
  • 13 hours How Far Have We Really Gotten With Alternative Energy
  • 17 hours What fool thought this was a good idea...
  • 3 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 10 days The United States produced more crude oil than any nation, at any time.
Editorial Dept

Editorial Dept

More Info

Premium Content

Geopolitical Tensions Keep Oil Prices Elevated

Geopolitics

In the complex mix of elements influencing crude oil prices, recent events have focused attention on June West Texas Intermediate (WTI) futures. The interplay of ongoing inflation, geopolitical tensions, and Federal Reserve policy decisions is molding the behavior of the market.

Geopolitical Risks and Oil Prices

Recent events have underscored the significant impact of geopolitical risks on oil pricing. The tensions between Iran and Israel, alongside the ongoing Ukraine-Russia conflict, have maintained crude prices near six-month highs. For instance, West Texas Intermediate crude witnessed a fluctuation, with prices settling lower on Thursday but remaining elevated due to these tensions. The price action has positioned WTI for a potential weekly loss, its first in three weeks.

In more specific terms, U.S. crude and the global benchmark have seen a decrease of about 1.8% and 1.4%, respectively, this week. These movements illustrate the market's sensitivity to geopolitical developments, yet traders have shown resilience to these risks, only reacting strongly to immediate escalations.

Impact of US and Global Politics

The geopolitical canvas is further complicated by the situation in Gaza. The Wall Street Journal reported concerns about the fate of Israeli hostages held by Hamas, adding another layer of uncertainty. This development, coupled with Ukraine’s recent drone strikes on Russian oil refineries, has implications for the global energy scenario.…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News