Location & Language

Zenfinex Global Limited regulated by the Financial Services Authority (FSA) of Seychelles (SD092)

Oil Prices Rise to Highest Level Since February 2025

Crude oil prices surged to $75.25 yesterday, marking their highest level since February 25, 2025. Prices have climbed approximately 10% from their March 5, 2025 low of $68.37 to yesterday’s peak of $75.25. Oil prices are currently hovering around $75 amid market uncertainty, driven by various conflicting factors.

Positive Factors Influencing Oil Prices:

  • India’s search for alternatives to Russian oil: India is looking for oil supplies from the Middle East, the North Sea, and the Mediterranean Sea following U.S. President Donald Trump’s threats to impose sanctions on buyers of Russian oil. Notably, India imports 40% of its oil from Russia.
  • Additional tariffs on Iranian oil: Trump has threatened military action against Iran if it refuses to abandon its nuclear program, alongside the imposition of new tariffs.
  • Escalating geopolitical tensions in the Middle East: Particularly in the Red Sea, rising geopolitical risks are adding to the risk premium in oil prices.
  • Increased demand for oil: China, the world’s largest oil importer, has been a key driver of demand. Recent Chinese economic data, including manufacturing and services PMI indicators, have exceeded expectations. Additionally, growing demand from refineries ahead of the summer season—when oil consumption typically rises—is further supporting prices.

Markets are closely watching today’s announcement from the Trump administration regarding new tariffs, as details on the targeted countries and specific measures remain unclear, adding to investor uncertainty in the oil market.

Technical Analysis:

Oil prices have successfully broken above the 50-day moving average (blue) at $73.67. The next key resistance level is the 200-day moving average (yellow) at $76.01. Meanwhile, the Relative Strength Index (RSI) is currently at 58, indicating continued bullish momentum for oil. Additionally, the MACD indicator shows a bullish crossover, with the MACD line (blue) crossing above the signal line (orange), reinforcing a positive outlook for oil prices.

Please note that this analysis is provided for informational purposes only and should not be considered as investment advice. All trading involves risk.

Back

Popular Posts

Will Oil Break Resistance? Markets Await the Next Move

Gold Prices Maintain Bullish Momentum Backed by Geopolitical and Technical Factors

Overview of Last Week’s Key Economic Events

Economic Data Drives NZD Higher Despite RBNZ Rate Cut

Lorem Ipsum

Lorem ipsum dolor sit amet, consectetur adipiscing elit.

Here are some related articles you may find interesting:

Market Insights​

June 4, 2025

Will Oil Break Resistance? Markets Await the Next Move

Crude oil prices have been trading in a sideways range between $62 and $66.75 over the past month, currently hovering around the $65 mark. There...

Market Insights​

June 3, 2025

Gold Prices Maintain Bullish Momentum Backed by Geopolitical and Technical...

Gold prices continue to rise for the fifth consecutive month. On April 22, gold hit a record high of $3,500 before pulling back to $3,121...

Market Insights​

June 2, 2025

Overview of Last Week’s Key Economic Events

Last week witnessed the release of several major global economic indicators. In the United States, data showed a slowdown in some metrics, with the Core...

Market Insights​

May 29, 2025

Economic Data Drives NZD Higher Despite RBNZ Rate Cut

The Reserve Bank of New Zealand (RBNZ) cut interest rates by 25 basis points in its meeting yesterday, lowering the official cash rate from 3.50%...

Ready to Elevate Your Trading Journey?

Open a Taurex account and start trading today.

We’re Sorry

Access to tradetaurex.com
is unavailable in your region

tradetaurex.com is required to abide by global laws and therefore the information on this site is not directed at residents of the United States, Canada, North Korea, Iran, Myanmar, Belgium, Spain, France, Japan, South Korea or any particular countries and is not intended for distribution to, or use by, any person in an country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Live account Registration

1 Hour Trading Consultation

Chat on WhatsApp
This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.