Oil prices climbed on February 10, 2025, driven by escalating geopolitical risks in the Middle East and economic uncertainty stemming from new U.S.
trade policies.Brent crude, the global benchmark, rose 1.6% to $75.87 per barrel.
Meanwhile, U.S.-based West Texas Intermediate (WTI) gained 1.85%, closing at $72.32 per barrel.These increases reflect a market reacting to heightened instability and shifting demand expectations.The fragile ceasefire in Gaza took center stage as reports of alleged violations by Israel emerged.Meanwhile, threats from Hamas to delay hostage releases raised fears of renewed conflict.
This development added a risk premium to oil prices, as traders weighed the potential for disruptions in the Middle East, a region critical to global oil supply.Khalil al-Hayya, a senior Hamas official, dismissed Western plans for Gaza as doomed, further fueling market concerns.
Simultaneously, President Donald Trumps announcement of a 25% tariff on steel and aluminum imports created ripples across global markets.Oil Prices Rise as Geopolitical Tensions and U.S.
Tariffs Shake Markets.
(Photo Internet reproduction)While these tariffs could boost U.S.
industrial activity and energy demand, they also sparked fears of retaliatory measures, including Chinas decision to impose a 10% tariff on U.S.
crude oil imports.Despite rising U.S.
crude inventories, which increased by 3.5 million barrels last week, speculative buying supported prices throughout the session.
Technical resistance capped gains late in the day, but trading volumes remained robust as investors positioned themselves amid growing uncertainty.This story underscores how geopolitical tensions and economic policies can impact oil markets.
These factors shape trends that investors and policymakers cannot afford to ignore.