Markets

The oil futures market experienced a turbulent week from Jan. 27 to 31, characterized by significant price swings driven primarily by uncertainty surrounding US trade policy.

Saudi Arabia is expected to raise its official selling prices (OSPs) for crude oil to Asia for Mar. loadings, reaching a 14-month high.

The specter of US tariffs on Canadian crude oil imports has injected significant volatility into North American energy markets, impacting price discounts, natural gas flows, and long-term investment decisions.

US sanctions on Russian oil, coupled with potential tariffs on Canadian and Mexican imports, are significantly reshaping global oil markets, creating both challenges and opportunities.

The US is navigating a complex geopolitical landscape, balancing its desire to maintain pressure on Venezuela with its need to secure reliable oil supplies, especially in the context of potential trade disputes with Canada and Mexico.

Russia's crude oil exports faced headwinds in 2024, with total exports, including pipeline and seaborne shipments, declining by 2.2%, according to Kommersant.

Several Asian nations are pursuing ambitious energy strategies, balancing the need for economic growth with long-term sustainability goals.

US policy and its potential impact on the global oil market have become a focal point for OPEC+.

On Jan. 20, 2025, President Donald Trump issued an executive order declaring a national energy emergency aimed at boosting US fossil fuel production and infrastructure.

The oil market experienced notable fluctuations during the week of Jan. 20, 2025, primarily influenced by US President Donald Trump’s inauguration and his subsequent policy announcements.