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Oil surges on Tuesday
Aya Anwar Published in Amwal Al Ghad on 14 - 10 - 2025

Oil prices rose on Tuesday as early signs of easing US-China trade tensions boosted market sentiment and eased concerns over global fuel demand. Brent crude gained 22 cents to $63.54 a barrel, while US West Texas Intermediate (WTI) rose 22 cents to $59.71 a barrel.
US Treasury Secretary Scott Bessent said President Donald Trump remains committed to meeting Chinese President Xi Jinping in South Korea later this month, following substantial communications over the weekend. Analysts noted that Trump's softer tone and openness to a deal supported investor confidence, as improved trade ties could strengthen global growth and fuel demand.
However, market gains remain limited by Beijing's expanded rare earth export controls and Trump's past tariff threats. ANZ analyst Daniel Hynes highlighted additional tensions, including China's levies on US-owned ships, which have disrupted shipping rates.
OPEC+ and allied producers, including Russia, said in their monthly report that the oil supply shortfall is expected to shrink in 2026 amid planned output increases, keeping geopolitical and market factors in focus.
Attribution: Reuters
Subediting: Y.Yasser

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