2025-04-25 07:00:00
OIL PRICE: BRENT NEAR $67, WTI BELOW $64
REUTERS - April 25, 2025 - Oil prices rose for a second session on Friday buoyed by potential de-escalation of the U.S.-China trade war, but the market was headed for a weekly decline amid concerns about oversupply.
Brent crude futures gained 43 cents to $66.98 a barrel by 0433 GMT, on track to fall 1.4% for the week.
U.S. West Texas Intermediate (WTI) crude rose 42 cents to $63.21 a barrel but was set to decline 2.3% for the week.
"For today, oil prices are slightly up as the market responds to signs of easing tensions around Trump's tariffs and a potential shift in the Fed’s policy stance, contributing to a broader market recovery," said LSEG senior analyst Anh Pham.
"On a weekly basis, however, prices are down as concerns over oversupply from OPEC+ persist, while the demand outlook remains uncertain amid ongoing trade tensions. A stronger U.S. dollar has also added pressure to crude prices," he added.
U.S. President Donald Trump said on Thursday that trade talks between the U.S. and China were underway, pushing back against Chinese claims that no discussions had taken place.
China is considering exempting some U.S. imports from its 125% tariffs and is asking businesses to provide lists of goods that could be eligible in the biggest sign yet of Beijing's concerns about the economic fallout from the trade war.
China hiked its tariffs after Trump announced higher levies on Chinese goods.
Oil prices tumbled earlier this month after the tariffs sparked concern about global demand and a sell-off in financial markets.
Worries are growing about excess supply. Several OPEC+ members had suggested the group accelerate oil output increases for a second month in June, Reuters reported earlier this week.
The United States and Russia are moving in the right direction to end the war in Ukraine, but some specific elements of a deal remain to be agreed, Russian Foreign Minister Sergey Lavrov said in an interview with CBS News.
A halt to Russia's war in Ukraine and the easing of sanctions could allow more Russian oil to flow to global markets. Russia, a member of the OPEC+ group that includes the Organization of the Petroleum Exporting Countries, is one of the world's biggest oil producers along with the U.S. and Saudi Arabia.
And Iranian Foreign Minister Abbas Araqchi said on Thursday he was ready to travel to Europe for talks on Tehran's nuclear programme.
Successful talks with Europe and the U.S. would probably result in the lifting of sanctions on Iranian oil exports. Iran is the third-biggest oil producer in OPEC behind Saudi Arabia and Iraq.
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Earlier:
2025, April, 25, 06:55:00
RUSSIAN OIL FOR INDIA UP
India’s imports of Russian crude are on track to hit 2.15 million barrels a day in April, the biggest monthly volume since May 2023, according to data from Kpler. Shipments have climbed since tumbling to a 14-month low in February.
2025, April, 25, 06:50:00
RUSSIAN OIL PRICE 2025: $68
The ministry envisages in its baseline scenario of economic forecasts for 2025 that the average price for Brent will be at $68 per barrel, down from the $81.7 per barrel it assumed in its September forecasts,
2025, April, 24, 07:00:00
ЭНЕРГИЯ РОССИИ ДЛЯ КИТАЯ
Стороны обсудили энергетическое сотрудничество во всех отраслях топливно-энергетического комплекса. Ключевой темой встречи стали перспективы расширения поставок российских энергоресурсов в КНР. Были отмечены достигнутые результаты по поставкам природного газа из России в Китай.
2025, April, 21, 07:00:00
OIL PRICE: BRENT BELOW $67, WTI BELOW $64
Brent slipped $1.10, or 1.6%, to $66.86 a barrel, WTI was at $63.57 a barrel, down $1.11, or 1.7%.
2025, April, 17, 07:00:00
OIL PRICE: BRENT ABOVE $66, WTI ABOVE $63
Brent rose 55 cents, or 0.8%, to $66.40 a barrel , WTI was at $63.13 a barrel, up 66 cents, or 1.1%.
2025, April, 17, 06:50:00
CHINA BUYING IRANIAN OIL
On April 10, the US Department of the Treasury sanctioned nearly 30 oil tankers involved in shipping Iranian crudes, as well as a Chinese storage terminal.
2025, April, 17, 06:35:00
RUSSIAN ENERGY FOR SRI LANKA
Joint Indian-Russian operators are already managing the countries second airport at Hambantota, which is being repositioned as a tourist arrivals hub from East Asia. Sri Lanka is a member of the SAARC trade bloc, and has also applied to join the BRICS.
2025, April, 16, 06:40:00
GLOBAL OIL DEMAND +1.3 MBD
The global oil demand growth forecast for 2025 is revised down slightly to 1.3 mb/d, y-o-y. This minor adjustment is mainly due to received data for 1Q25 and the expected impact on oil demand given recently announced US tariffs.
