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.