Oil prices rose during Monday’s trading after the United States pledged to continue attacking the Houthis in Yemen, while markets also monitored trade tensions that could impact economic growth.
Brent crude futures for May delivery increased by 0.57% or 40 cents to $70.98 per barrel at 09:34 AM Mecca time. Meanwhile, U.S. crude futures for April delivery rose by 0.58% or 39 cents to $67.57 per barrel.
Goldman Sachs lowered its Brent crude price forecast for December by $5 to $71 per barrel, with U.S. crude expected to be at $67 per barrel.
The American bank attributed this revision to expectations of slower U.S. economic growth than previously anticipated, due to tariffs imposed by the Trump administration on countries such as China, Mexico, and Canada.
This week, market attention is focused on the Federal Reserve meeting, where interest rates are expected to remain steady within the 4.25%-4.50% range, as policymakers continue to assess the impact of Trump’s policies
-255*160.webp)
-255*160.webp)
