Crude -oil prospects: Brent is $ 65 on Iran export cuts, drops 8% within a month; Important Technical Series for MCX | Einsmark news

Brent and West Texas Intermediate Rude climbed more than $ 1 on Friday after US Energy Secretary Chris Wright said that United States could end Iran’s oil exports as part of an attempt to bring the Islamic Republic to conditions on its nuclear program. Brent Ru Futures settled a $ 64.76 a barrel, $ 1.43 or 2.26%. The US Western Texas -Internmediate crude oil ends at $ 61.50 a barrel, $ 1.43 or 2.38%. Wright’s remarks gave upward oil prices momentum, following volatile price fluctuations this week, as US President Donald Trump’s new tariff regime forced traders to re -evaluate the geopolitical risks facing the RU market. China announced on Friday that it will impose a 125% tariff on US goods, which starts on Saturday, higher than the previously announced 84%, after Trump raised rates against China to 145% on Thursday. Trump has interrupted heavy rates against dozens of other trading partners this week, but a long -lasting dispute between the world’s two largest economies is likely to reduce global trade volumes and disrupt trade routes, weighing the global economic growth and reducing demand for oil. According to Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, “WTI-RU oil wiped out all profits from the previous session, driven by President Trump’s announcement of a 90-day break on the newly imposed reciprocal rates for different countries. Outlook, and the global forecast of oil demand growth for 2025 to 900,000 barrels per day, with 400,000 barrels from its previous forecast. WTI rough remains under pressure and trades near $ 60 a barrel, as US rates on Chinese imports are further increased to 145%, increases the fear of deeper retaliation and a possible global economic slowdown, “Chainwala added for the first time: 12 Apr 2025, 09:11 IST