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Oil & energy

Oil Faces Worst Monthly Drop Since 2022 Despite Steadying Prices

Oil Faces Worst Monthly Drop Since 2022 Despite Steadying Prices

Oil prices remain steady as traders monitor two key situations: the US-China trade tensions and US-Iran diplomatic talks.

Brent crude trades near $67 after China announced plans to support exporters affected by US tariffs while maintaining confidence in reaching its 5% economic growth target.

The oil market faces its worst monthly performance since 2022 due to fears that trade disputes will hurt demand, compounded by OPEC+ increasing production.

Upcoming US economic data and oil company earnings reports could provide direction for the market, while progress in US-Iran nuclear talks continues despite a deadly explosion at a strategic Iranian port.

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