Oil Prices Poised For Third Weekly Gain Ahead Of More Trump Tariffs
Oil headed for a third weekly advance as the market braced for more tariffs from the Trump administration due early next week.
Brent traded near $74 a barrel after closing 0.3% higher on Thursday, while West Texas Intermediate was below $70. So-called reciprocal levies and a duty on buyers of crude from Venezuela are scheduled to take effect on April 2, the latest round in a series of US tariffs that's rattled global markets.
Oil has trended higher since early March as investors weigh the disruption to supply caused by President Donald Trump's sanctions and levies, with traders snapping up bullish options to hedge against price spikes. Venezuela has also ramped up crude exports to China to the highest in almost two years.
The potential hit to crude flows has been at times tempered by concerns over softer demand and rising supply, with top trading houses bearish on crude prices over the rest of the year. Next month, OPEC+ is scheduled to start reviving idled production, the first in a series of planned hikes.
Prices:
Brent for May settlement was little changed at $73.96 a barrel at 8:45 a.m. in Singapore. Futures are up 2.5% this week
WTI for May delivery was steady at $69.88 a barrel.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
