Global oil prices closed mixed on Tuesday.
After four consecutive days of gains, oil prices showed a mixed performance within a narrow range.
West Texas Intermediate (WTI), the U.S. oil benchmark, saw a slight decline, while Brent crude, the international benchmark, continued its upward trend.
Brent crude for the May delivery settled at $73.02 per barrel, up $0.02 (0.03%) from the previous session.
Meanwhile, WTI for May delivery ended at $69.00 per barrel, down $0.11 (0.16%).
This marked Brent’s fifth consecutive day of gains, while WTI fell for the first time in five days.
Despite the mixed closing, analysts emphasize that upward pressure on oil prices remains significant.
Supply disruption concerns are at the forefront.
U.S. President Donald Trump’s threat to impose a 25% tariff on countries importing Venezuelan oil has led China to halt its imports. This move is expected to create a balloon effect, potentially driving up prices for other oil sources.
Since Trump took office, geopolitical tensions in the Middle East have escalated. Israel has broken a ceasefire agreement and resumed attacks on Palestine, while the U.S. has targeted Houthi rebels in Yemen.
