From Financial Modeling Prep: 2025-04-24 02:50:00

Oil prices saw a slight uptick after a 2% dip, with Brent Futures up $0.08 to $66.20/bbl and WTI Futures up $0.09 to $62.36/bbl. OPEC+ members are divided on increasing output, while trade signals from Washington and U.S.–Iran nuclear talks continue to impact market sentiment.

Investors are closely watching for a possible June increase in OPEC+ output, with Kazakhstan prioritizing national interests over quotas. Mixed trade signals from the U.S., including a potential tariff cut on China, have left markets uncertain about the future direction of oil prices.

Diplomatic talks in Oman aim to establish a nuclear framework with Iran, but sanctions on Iran’s LPG network are keeping energy tensions high. Any progress in the talks could ease Middle East risk premia, while setbacks may increase safe-haven demand for oil.

Upcoming events to watch include the OPEC+ meeting in early June for output decisions, the U.S. EIA inventory report for supply data, and flash PMIs and trade announcements for demand cues and policy risk updates. Stay informed with the Economics Calendar – Economics Data API for real-time schedules and context on key events impacting oil volatility.



Read more at Financial Modeling Prep:: Oil Inches Up as OPEC+ Discord and Trade-Talk Uncertainty Weigh on Prices