Global Oil Prices Edge Higher on Tuesday

PUKMEDIA

Oil Prices.

On Tuesday, 15 April 2025, global oil prices experienced a modest rise, buoyed by optimism regarding proposed U.S. tariff exemptions and robust import figures from China, despite persistent concerns over global demand and supply imbalances.

Brent crude futures held relatively stable, while the United States Oil Fund (USO)—a key gauge of crude oil prices—climbed by 0.4% to reach $66.66, having dipped to as low as $65.64 earlier in the trading session. The modest gains reflected cautious investor sentiment amidst mixed market signals, following a recent decline linked to broader economic uncertainties.

The slight uptick in oil prices was partly fuelled by new figures from China’s General Administration of Customs, which reported a 4.9% year-on-year increase in crude oil imports for March, amounting to approximately 51.41 million tonnes. The rise was largely due to increased seaborne deliveries, including record volumes of Iranian crude arriving in the Shandong province. On average, China imported 10.6 million barrels per day in March—the highest level recorded since October 2023.

Market observers continue to monitor developments closely, with focus on geopolitical tensions, policy shifts, and wider economic indicators—all of which are expected to shape oil price trends in the short term.



PUKMEDIA