Oil prices surged on Monday, with Brent futures increasing by 1.06% to $71.33 per barrel. Meanwhile, US West Texas Intermediate rose by 1.12% to $67.94.
Oil prices surge followed US threats to continue military action against Yemen’s Houthis, leading investors to fear potential supply disruptions. IG analyst Tony Sycamore commented, “Geopolitical tensions are back.”
US stock futures dipped, but Asia’s markets charged up. MSCI’s Asia-Pacific index gained 1%, hitting a one-week high. Japan’s Nikkei jumped 1.24%. Hong Kong’s Hang Seng rose over 0.8%. Meanwhile, a busy week looms. The US Federal Reserve meets Wednesday and will likely hold rates steady.
🛢️🚢 Brent Crude Rises as U.S. Strikes Houthis Amid Shipping Disruptions
Tickers of interest: $BRN $WTI
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— PiQ (@PiQSuite) March 16, 2025China’s moves lifted oil too. On Sunday, Beijing unveiled plans to spark consumption. New subsidies and income hikes aim to revive demand in the world’s number-two economy. “Households need capacity and confidence to spend,” said ING’s Lynn Song. Oil prices surge as China’s outlook brightens.
#OnETNOW | Will palm oil prices surge further? Supply concerns mount as FMCG firms brace for impact. Dorab Mistry of Godrej International decodes the latest trends and what lies ahead!
Watch the full interview here:https://t.co/NecAgbmHez@nikunjdalmia @AyeshaFaridi1… pic.twitter.com/BbQJO0Xelf
— ET NOW (@ETNOWlive) March 12, 2025China’s industrial output grew 5.9% early this year—better than expected. Yet, property investment lagged. Markets shrugged off the data. The CSI300 index slipped 0.07%, while Shanghai’s Composite rose 0.28%. The yuan edged up 0.2% to 7.2265. Investors await more details from officials later Monday.
Oil could climb higher. Sycamore warns that a break past $68.50 might spark a rally. China’s consumption push offers upside. But US-Houthi clashes keep tensions simmering. This oil price surge reflects a world split, Asia gains while the US watches warily.
