Asian markets retreat on Thursday    US Fed cuts interest rate to 3.5–3.75%    Oil prices steady on Thursday    Deli Group breaks ground on new factory in 10th of Ramadan City    UN rejects Israeli claim of 'new Gaza border' as humanitarian crisis worsens    Egypt's Cabinet approves development of Nasser Institute into world-class medical hub    Egypt reports sharp drop in waste burning incidents during autumn 2025    Servier Egypt launches Tibsovo as first targeted therapy for IDH1-mutated cancers    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt, EBRD discuss boosting finance in petroleum, mining sectors    Egyptian Cabinet prepares new data law and stricter fines to combat misinformation    Egypt's exports rise 28.2% in September 2025 as trade deficit narrows    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt's Abdelatty urges rapid formation of Gaza stability force in call with Rubio    Blair dropped from US Gaza governance plan after Arab objections    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    Egypt, China's CMEC sign MoU to study waste-to-energy project in Qalyubia    Egypt joins Japan-backed UHC Knowledge Hub to advance national health reforms    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Oil inches up on tariff exemptions on Monday
Aya El Sayed Published in Amwal Al Ghad on 14 - 04 - 2025

Oil prices rose slightly on Monday, supported by US tariff exemptions and a rebound in Chinese crude imports, though gains were limited by ongoing concerns over US-China trade tensions and slowing global demand.
Brent crude gained 8 cents to $64.84 a barrel by 0822 GMT, while US West Texas Intermediate (WTI) rose 10 cents to $61.60.
US President Donald Trump's administration on Friday excluded smartphones, computers, and other electronics from steep China tariffs, boosting sentiment. Trump also said he would announce tariffs on imported semiconductors this week.
China's crude imports in March surged nearly 5 per cent year-on-year, driven by stronger deliveries from Iran and Russia, according to customs data.
Despite Monday's gains, Brent and WTI have fallen about $10 a barrel since early April. Goldman Sachs now expects Brent to average $63 and WTI $59 for the rest of 2025 and $58 and $55, respectively, in 2026.
The bank projects global oil demand in Q4 2025 will rise just 300,000 barrels per day year-on-year, with petrochemical feedstocks seeing the weakest growth.
The Brent price curve has flipped into contango, with December 2025 futures trading below December 2026, indicating expectations of oversupply. Meanwhile, the US oil and gas rig count declined for a third straight week, according to Baker Hughes.
Supporting prices, US Energy Secretary Chris Wright said Washington could halt Iranian oil exports as part of efforts to pressure Tehran. However, the US and Iran held "positive" talks in Oman on Saturday and plan to reconvene next week.
Attribution: Reuters
Subediting: M. S. Salama

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