Oil - Overview as of 10.02.2025

Financial and commodity markets analytics


Oil prices show a slight local growth, holding above the previously mentioned range of $70-71. the previously mentioned range of $70-71. Markets are trying to assess the impact of of new U.S. tariffs on steel and aluminum on global economic growth and energy demand. energy demand. Both oil grades rose 0.5% . Despite the announcement of the new tariffs, previous temporary suspensions of the of tariffs on imports from Canada, Mexico and China have made investors less sensitive to such announcements. Market participants expect the continuation of the arrival of new tariff-related data. Technically, in case the price still manages to consolidate under the level of $70, there is a significant support zone below $68.