Oil Prices Steady Amid Russian Sanctions and China Stimulus

Oil prices remained stable after a strong weekly rise, with Brent crude hovering above $74 per barrel and West Texas Intermediate near $71. The gains followed signals from the U.S. Treasury Secretary Janet Yellen about potentially lowering the price cap on Russian crude to tighten sanctions. Meanwhile, China, the world's largest oil importer, pledged further economic stimulus, adding optimism to the market. Despite this, crude prices have been range-bound since October, balancing geopolitical pressures against concerns of a supply glut next year. Additionally, OPEC+ member United Arab Emirates announced export cuts for early next year, as Abu Dhabi National Oil Company (Adnoc) reduced crude allocations for some Asian buyers, highlighting the group's effort to maintain production discipline.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com