Oil Prices Volatile Amid Economic and Political Uncertainty
Fluctuations driven by US interest rate concerns, geopolitical events, and OPEC+ supply policies
- Oil prices have been fluctuating within a narrow range due to mixed market signals.
- US Federal Reserve officials' comments on interest rates are impacting demand forecasts.
- Political instability in major oil-producing countries, including Iran and Saudi Arabia, adds to market uncertainty.
- OPEC+ is set to review its production policy at an upcoming meeting, with potential supply adjustments on the horizon.
- Weak refining demand and ample supply are contributing to the current market softness.