Temporary Recovery in Oil: Prices Are Rising Again

We Slightly Recovered in Petrol Prices

After a sharp decline on Wednesday, oil showed a slight recovery in Thursday morning's Asian trades. This situation created a positive impact in the markets.

Price Increase After the Decline

Yesterday's decline had pulled U.S. crude oil (WTI) and Brent prices down to the lowest levels in the last five months. However, with renewed pressure from the U.S. to restrict Russian oil imports to India, an increase in oil prices was observed.

Currently, U.S. crude oil per barrel is trading at $58.80 with an increase of %0.91, while Brent is up by %0.89 at $62.46.

Trump's Statements and Market Reaction

U.S. President Donald Trump announced that Indian Prime Minister Modi has agreed to stop purchasing Russian oil. This development is considered to potentially alleviate concerns about oversupply. Trump also stated his intention to apply pressure on China regarding the same issue.

There Are Still Uncertainties in the Markets

Despite Trump's statements, the market remains sensitive to uncertainties regarding supply and demand balance. The International Energy Agency (IEA) warned that if OPEC+ and other producers continue to increase production, the global oil surplus could be larger than expected by 2026. Additionally, U.S.-China trade tensions are negatively influencing demand expectations; rising tariffs could weaken growth in both economies.

Stock Increases are Impacting Prices

Another factor increasing uncertainty is the significant rise in crude oil inventories according to U.S. data. This situation indicates that stock accumulation in the domestic market is starting to put pressure on prices.