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Date: 25-jul-2025 | By: Nuztrend Team
Global oil prices have gained upward momentum, supported by renewed optimism over trade negotiations between the United States and the European Union, alongside unexpected cuts in Russian gasoline exports. Market analysts believe these factors could tighten global supply and keep crude prices elevated in the near term.
On Friday, Brent crude futures rose to approximately $69.35 per barrel, while West Texas Intermediate (WTI) traded near $66.18 per barrel. The price surge followed a sharper-than-anticipated drawdown in U.S. crude inventories, signaling resilient demand across key markets.
Russia, one of the world’s leading oil exporters, recently announced a cut in gasoline exports due to refinery maintenance and domestic demand concerns. This move has raised fresh concerns over the global supply chain, especially for European markets that still rely on Russian fuel shipments.
Positive developments in the ongoing U.S.–EU trade negotiations have also buoyed investor sentiment. If a trade agreement is finalized, analysts predict it could stabilize energy flows between the two regions and further strengthen global economic outlooks, boosting demand for crude oil.
Despite the current price uptick, experts warn of potential short-term volatility. A mix of geopolitical tensions, refining disruptions, and OPEC+ production policies could create unpredictable swings in global oil markets in the coming weeks.
According to Reuters, traders are closely monitoring upcoming inventory data and supply forecasts from both OPEC+ and the International Energy Agency (IEA).
With summer travel and industrial activity boosting energy consumption, demand for gasoline and jet fuel remains strong. Analysts suggest that if Russian export curbs persist, Brent could test the $70 mark, while WTI may approach $67–68 in the near term.
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