Mitsubishi UFJ: Traders are monitoring the possibility of the United States imposing secondary tariffs on Russian oil exports.
Analysts at Mitsubishi UFJ Financial Group stated in a report that although an increase in production by OPEC+ was widely expected, concerns over global demand prospects have heightened due to trade tensions and slowing economic indicators casting a shadow. Last week, oil prices fell as US employment data came in weaker than expected. However, market sentiment remains cautious as traders are monitoring the possibility of the US imposing secondary tariffs on Russian oil exports.
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