Oil prices rebound modestly after last week’s sharp declines driven by U.S.-China tensions and demand destruction fears, XMArabia Analyst Nadir Belbarka said in a statement sent to Rigzone on Monday.
“President Trump’s plan for 100 percent tariffs on Chinese goods from November 1, alongside geopolitical risks in Ukraine, Gaza, and Russia, has heightened volatility,” Belbarka said in the statement.
“Late-session reassurances, including a potential Xi meeting, stabilized sentiment, but the oil market remains fragile,” the analyst warned.
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Source: Rigzone
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