Oil Prices Edge Higher On Tuesday

PUKMEDIA

Oil prices.

On Tuesday, April 1, 2025, global oil prices experienced modest increases.

Brent crude futures rose by 16 cents, reaching $74.93 per barrel. Similarly, U.S. West Texas Intermediate (WTI) crude increased by 13 cents to $71.61 per barrel.  

This uptick in prices is influenced by concerns over potential supply disruptions due to U.S. President Donald Trump’s threats of secondary tariffs on Russian crude and military action against Iran. Despite these threats, worries about the impact of a trade war on global growth limited further gains. Analysts project that oil prices will remain under pressure this year due to U.S. tariffs, economic slowdowns in India and China, and increased supply from OPEC+ and the U.S.  

Traders continue to closely monitor global economic developments and supply dynamics, as market conditions remain sensitive to geopolitical tensions and trade policy impacts. 



PUKMEDIA