Oil Prices See Modest Rebound on Monday

PUKMEDIA

Oil Prices.

On Monday, 14 April 2025, global oil prices saw a slight uptick, driven by optimism surrounding positive economic data from China, despite ongoing global uncertainties.

Brent crude futures for June delivery rose by 0.1%, or 7 cents, reaching $64.83 per barrel, after having previously traded at $64.35. Similarly, U.S. West Texas Intermediate (WTI) crude futures for May delivery gained 0.2%, or 12 cents, reaching $61.62 per barrel, following a dip to $61.08 earlier in the session. While the prices showed a modest rebound, they remained under pressure due to persistent concerns about potential global economic slowdowns, exacerbated by rising trade tensions between the U.S. and China.

The boost in oil prices was partly fueled by recent data from the Chinese Customs Administration, which revealed a 4.8% year-on-year increase in China's crude oil imports for March, totaling approximately 51.41 million tonnes. This surge was driven in large part by record volumes of Iranian oil arriving in the Shandong region, helping lift China's seaborne oil imports to 10.6 million barrels per day, the highest level since October 2023.

However, global oil markets remain cautious due to rising geopolitical risks, particularly the ongoing U.S.-China trade conflict, which has contributed to concerns about future global oil demand. While China’s demand offers some positive momentum, analysts are still closely watching the potential impact of U.S. tariffs and other trade policies on global economic growth.

Market participants are closely monitoring these developments, as well as the potential for geopolitical disruptions that could further affect supply. The effects of these factors are expected to continue shaping oil price movements in the weeks ahead.



PUKMEDIA