🚨 Oil Price Remains Stable Amid Geopolitical Tensions and Trade Agreements 🛢️🌏
Oil prices showed stability in Asian trading on Tuesday, following strong gains on Monday, driven by Donald Trump's shortened deadline for Russia to end the war in Ukraine ⏳🇷🇺⚠️. This measure heightened concerns about potential sanctions and restrictions on Russian crude supply.
Additionally, the positive momentum came from advancements in U.S. trade agreements, including a framework deal with the European Union that reduces tariff tensions and improves future energy demand expectations 📈🤝.
Brent futures edged up slightly to $70.09 per barrel, while WTI remained stable at $66.74. However, caution prevails ahead of the upcoming Federal Reserve meeting and key economic data from the United States ⚖️📊.
The market remains vigilant about possible 100% secondary sanctions against partners importing Russian oil, which could significantly alter supply dynamics and impact global prices 🌍🛢️.