The price of West Texas Intermediate (WTI) crude increased by more than 1.00% at the opening of the Asian market, reaching the $70.50 per barrel zone.
This increase was mainly driven by positive data on manufacturing activity in China, which showed its highest growth in the last three months.
This news generated renewed optimism regarding crude oil demand, pushing its price higher.
China, as one of the world’s largest oil consumers, plays a key role in the energy market dynamics. The expansion of its manufacturing sector suggests a greater need for raw materials, including crude oil.
This growth has led to expectations of higher consumption, strengthening investor confidence in the oil sector.
However, uncertainty persists on the international stage due to the possible imposition of new tariffs by the United States. Such a measure could affect global trade and, consequently, the world economy.
Analysts warn that any obstacles in trade relations between these powers could limit economic growth and, in turn, reduce crude oil demand.
Market sentiment also received a positive boost following the recent summit of European leaders, where they reaffirmed their support for Ukrainian President Volodymyr Zelenskiy. During the meeting, strategies were discussed to strengthen Ukraine’s resilience amid the conflict with Russia, including the promise of increased financial and logistical aid from the European Union.
Additionally, Zelenskiy met with U.S. President Donald Trump to discuss potential strategic agreements. Among the topics covered was a mining agreement with the United States that could create new economic opportunities and reinforce bilateral cooperation in key sectors. Such alliances could indirectly impact the global energy market, influencing the supply and demand of resources.
Despite the optimism generated by these factors, experts recommend caution due to market volatility. Crude oil price fluctuations remain subject to multiple geopolitical and economic factors. Therefore, investors must stay alert to upcoming developments that may alter the balance of the energy sector.
In conclusion, the rise in WTI prices reflects positive factors, such as the recovery of manufacturing activity in China and international stability supporting Ukraine. However, uncertainty regarding U.S. trade policies and their impact on the global economy remains a risk factor. As new events unfold, the oil market may experience further fluctuations, requiring constant analysis to assess its evolution.
