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Oil Faces Worst Monthly Drop Since 2022 Despite Steadying Prices

Oil prices remain steady as traders monitor two key situations: the US-China trade tensions and US-Iran diplomatic talks.

Brent crude trades near $67 after China announced plans to support exporters affected by US tariffs while maintaining confidence in reaching its 5% economic growth target.

The oil market faces its worst monthly performance since 2022 due to fears that trade disputes will hurt demand, compounded by OPEC+ increasing production.

Upcoming US economic data and oil company earnings reports could provide direction for the market, while progress in US-Iran nuclear talks continues despite a deadly explosion at a strategic Iranian port.

Original Source: Yahoo Finance

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