Lates News

Brent crude oil edged lower in early trading after closing above $100 per barrel, but is still expected to record a more than 12% increase this week due to concerns over further supply disruptions caused by threats to Red Sea shipping. As the global oil price benchmark, Brent crude oil prices fell 1.3% to $99.39 per barrel in intraday trading, while WTI crude oil futures prices fell 1.4% to $90.89 per barrel. Analysts at the Netherlands International Group said, "The key issue is at what level oil prices would prompt the Trump administration to feel pressure to return to the negotiating table." They pointed out that if Brent crude oil prices approach $120 per barrel, the pressure to cool down the situation will significantly increase, referring to the soaring oil prices in the early stages of the conflict. For Iran, the more urgent issue is not the level of oil prices, but how long the country can withstand a sharp decline in oil revenue under U.S. sanctions.