Lagos — Crude oil prices rose on Monday, extending their rebound, supported by renewed optimism after the United States and China reported progress in trade negotiations over the weekend.
The constructive tone from both sides lifted market sentiment, as easing tensions between the world’s two largest oil consumers could support global demand expectations.
However, despite the rebound, crude prices remain vulnerable to near-term volatility due to limited clarity from the talks and persistent global macroeconomic uncertainties.
Meanwhile, OPEC+ is expected to raise output in the coming months, potentially increasing global supply at a time when demand recovery remains uneven.
Additionally, U.S.-Iran nuclear negotiations have the potential to bring additional Iranian crude to the market should a deal be reached, elevating the risk of renewed price pressure in the short term.
In the meantime, traders could continue to monitor any new developments in trade policy and their impact on the market.
*Inki Cho Financial Markets Strategist Consultant to Exness
