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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/crude-oil-outlook-profit-taking-and-us-inventory-build-weigh-on-market-after-strong-start-to-2025/
Crude oil prices began 2025 with strong momentum, but have faced some headwinds in recent sessions, driven by a sharp build in US inventories and profit-taking following a brief move above $75 per barrel for WTI.
The price spike marked the highest level for the front-month contract since October, but it has since cooled amid concerns over supply and demand dynamics.
Looking ahead, the near-term outlook for crude remains largely tied to the same key factors that influenced the market throughout 2024. Central to this is the demand outlook, with a particular focus on the Chinese economy. Analysts are watching closely to see whether China can finally achieve a stable and sustainable economic recovery, which would bolster global demand for oil.
Additionally, geopolitical risks continue to hang over the market, limiting significant downside for oil prices, as uncertainties in key regions may lead to supply disruptions. Domestic US policy, particularly in light of President-elect Trump’s rhetoric on energy, will also be in focus. Speculation surrounding potential pro-drilling policies under his administration could impact future supply levels and influence market sentiment.
In the coming weeks, market participants will be closely monitoring these evolving dynamics to gauge the trajectory of crude oil prices. While the short-term outlook remains uncertain, many expect geopolitical factors and global demand trends to continue shaping the market in 2025.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/crude-oil-outlook-profit-taking-and-us-inventory-build-weigh-on-market-after-strong-start-to-2025/
