On March 7th, Jinshi data reported that oil prices rose on Friday, with both U.S. and Brent oils rising by more than 1%. However, under the impact of the Fluctuation in U.S. trade policy and OPEC+'s production increase plan, oil prices are still expected to plummet significantly this week. Earlier, U.S. Treasury Secretary Benson stated that if it helps peace negotiations, the U.S. will increase pressure on Iran and will not hesitate to impose sanctions on Russia ‘wholeheartedly.’ However, analysts from the BMI research department under Fitch Ratings stated, ‘The oil market is facing new uncertainties on the supply side and dim prospects on the demand side.’ The U.S. partially lifted tariffs on some goods from Mexico and Canada, further increasing the uncertainty of U.S. President Trump’s trade strategy and its impact on the global economy. Meanwhile, there are reports that the additional supply from OPEC+ will soon hit the market, adding to the downward pressure on oil prices.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
