Oil Market In Cautious Mood Ahead Of Tariffs Deadline
Date
1/31/2025 2:27:23 PM
(MENAFN- Investor Ideas) Investorideas, a go-to platform for big investing ideas releases market commentary from Terence Hove, financial Markets Strategist Consultant to Exness.
Crude oil futures stabilized to a certain extent as markets could remain cautious ahead of the deadline for U.S. President Donald Trump's tariffs threat on Mexico and Canada. Both countries are major crude exporters to the U.S. As a result, the proposed 25% tariff on exports from Canada and Mexico raised concerns about supply disruptions. The market could face risks due to the uncertainty and could see increased volatility next week.
At the same time, crude prices fell for a second week in a row, reflecting broader market uncertainties. Demand concerns continue to weigh on the market while the potential for increased crude production in the US could remain a negative factor for prices. The upcoming OPEC+ meeting adds to the uncertainty as the organization could affect supply levels and prices. Traders could continue to monitor new economic data from China to gauge demand levels as well as new developments in the US regarding tariffs and crude production.
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