Light Crude Oil Futures<\/a> are trading $69.37, down $0.28 or -0.40%.<\/p>\nTariff Headlines and Supply Risks Drive Mixed Sentiment<\/h2>\n The market is weighing two competing forces: U.S. policy-driven supply risks and broader macroeconomic concerns. On Wednesday, crude gained roughly 1% after U.S. inventory data showed a decline in crude and fuel stockpiles, reinforcing supply tightness. Further support came from Washington\u2019s renewed threats of sanctions on countries importing Venezuelan oil.<\/p>\n
India\u2019s Reliance Industries\u2014the operator of the world\u2019s largest refining complex\u2014plans to halt Venezuelan crude imports following the U.S. tariff announcement, signaling tightening availability. DBS Bank\u2019s energy team noted this could partially realize upside risk in crude markets tied to Venezuela and Iran sanctions.<\/p>\n
However, sentiment remains capped by demand-side uncertainties. President Trump\u2019s latest 25% tariff on imported cars and light trucks is raising concerns about consumer costs and the auto sector\u2019s demand for crude. While higher auto prices may curb gasoline demand, some analysts suggest it could slow the adoption of fuel-efficient or electric vehicles\u2014potentially supporting crude demand in the near term.<\/p>\n
OPEC+ Output Plans and China Data Add Layers to Outlook<\/h2>\n Traders are also factoring in the possibility of an OPEC+ supply hike in May, which may limit bullish momentum. Technical resistance between $73.50 and $74.00 remains a key ceiling in WTI, according to OANDA analyst Kelvin Wong, who noted that bullish pressure could stall unless demand indicators strengthen.<\/p>\n
Next week\u2019s China Purchasing Managers\u2019 Index data will be a focal point for gauging global demand health. Any sign of economic softness from the world\u2019s top crude importer could pressure prices further.<\/p>\n<\/div>\n
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[ad_1] At 09:37 GMT, Light Crude Oil Futures are trading $69.37, down $0.28 or -0.40%. Tariff Headlines and Supply Risks Drive Mixed Sentiment The market is weighing two competing forces: U.S. policy-driven supply risks and broader macroeconomic concerns. On Wednesday, crude gained roughly 1% after U.S. inventory data showed a decline in crude and fuel stockpiles, reinforcing supply tightness. Further support came from Washington\u2019s renewed threats of sanctions on countries importing Venezuelan oil. India\u2019s Reliance Industries\u2014the operator of the world\u2019s largest refining complex\u2014plans to halt Venezuelan crude imports following the U.S. tariff announcement, signaling tightening availability. DBS Bank\u2019s energy team noted this could partially realize upside risk in crude markets tied to Venezuela and Iran sanctions. However, sentiment remains capped by demand-side uncertainties. President Trump\u2019s latest 25% tariff on imported cars and light trucks is raising concerns about consumer costs and the auto sector\u2019s demand for crude. While higher auto prices may curb gasoline demand, some analysts suggest it could slow the adoption of fuel-efficient or electric vehicles\u2014potentially supporting crude demand in the near term. OPEC+ Output Plans and China Data Add Layers to Outlook Traders are also factoring in the possibility of an OPEC+ supply hike in May, which may limit bullish momentum. Technical resistance between $73.50 and $74.00 remains a key ceiling in WTI, according to OANDA analyst Kelvin Wong, who noted that bullish pressure could stall unless demand indicators strengthen. Next week\u2019s China Purchasing Managers\u2019 Index data will be a focal point for gauging global demand health. Any sign of economic softness from the world\u2019s top crude importer could pressure prices further. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":40458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-40457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t