Amman – May 21, 2025 (fbmjo)
Global oil prices showed slight fluctuations on Tuesday as traders weighed the potential fallout of stalled U.S.-Iran nuclear negotiations against strong short-term demand in Asia and cautious macroeconomic signals from China.
According to Bloomberg, Brent crude futures edged down by 6 cents to $65.48 per barrel, while West Texas Intermediate (WTI) crude futures rose by 1 cent to $62.70 per barrel.
Prices were supported by expectations of strong near-term demand, particularly in Asian markets, driven by healthy refining margins. Singapore’s refining margins—considered a key regional benchmark—averaged over $6 per barrel in May, up from $4.4 per barrel in April, based on data from the London Stock Exchange.
However, downside pressure emerged following Moody’s downgrade of the U.S. sovereign credit rating, which weakened economic expectations for the world’s largest energy consumer and dampened sentiment in global oil markets.
Investors are closely monitoring developments in the U.S.-Iran nuclear talks, as a collapse in negotiations could result in tighter global oil supply, adding further uncertainty to the market outlook.
