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Dollar Strength and Middle East Oil Flows Weigh on Crude Prices

Guavy AI Editorial Team
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USD
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The strength of the US dollar and increased oil flows from the Middle East weighed on crude prices last week, causing losses for WTI crude oil.

Despite these bearish factors, gains were limited by the Trump administration's stance that it has no interest in returning to the terms of its deal with Iran, which could impact oil flows from the region.

The International Energy Agency (IEA) also reported that global oil supply deficits will worsen due to ongoing disruptions from the US-Iran war, providing support for crude prices.

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