Oil - Overview as of 01.04.2025

Financial and commodity markets analytics

 

On Tuesday, oil quotations showed growth amid threats by US President Donald Trump to impose secondary sanctions against against buyers of Russian oil U.S. and increase pressure on Iran. However, concerns about the impact of of trade conflicts on the global economy may limit the potential for further increase. Technically, the growth of quotations originates in the area of the support zone, located below $68.00, which we wrote about earlier. When planning deals, it should be taken into account that the market may face resistance of sellers when approaching the levels above $72.20.