Oil prices rise again under geopolitical pressures

London, Jul 17 (Prensa Latina) Commodities traders reported a rise in oil prices again driven by expectations about geopolitical tensions. They stated that crude oil values rose on Thursday, even though global trade tensions seemed to cool, while analysts point to low inventories and new risks in the Middle East as factors supporting the market.

July 17, 2025
08:58

Brent futures rose 17 cents, 0.3 percent , to $68.69 a barrel, and U.S. West Texas Intermediate (WTI) futures gained 35 cents, 0.5 percent, to $66.73.

US President Donald Trump stated that letters notifying smaller countries of their tariffs will go out soon, and also referred to the prospects of an agreement with China on illicit drugs and a possible pact with the European Union.

Near-term prices are set to remain volatile due to uncertainty over the final scale of U.S. tariffs and the resulting impact on global growth, Ashley Kelty, analyst at Panmure Liberum said.

Meanwhile, John Evans, an analyst at PVM Oil Associates said the oil market was also reacting on Thursday to a tighter inventory scenario.

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