Oil Prices Steady Amid Sanctions and Economic Concerns

Oil prices hold steady after U.S. sanctions against Iranian oil smugglers sent markets up, with Brent crude around $69.13 and U.S. WTI at $65.63. A predicted drop in U.S. crude inventories further supports prices, but weak U.S. manufacturing data and tariff concerns are tempering gains by hurting business confidence and potentially limiting demand. Eyes are now on the upcoming OPEC+ meeting with expectations of no production changes, while political events in China add further pressure to the global oil market. Hosted on Acast. See acast.com/privacy for more information.