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Oil Market Outlook
Bangkok Post
|July 14, 2025
Oil prices rose as traders speculated that US President Donald Trump is preparing to announce major sanctions on Russian crude this week.
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Prices were also supported by a surge in ground and air traffic, which reached record highs amid US Independence Day celebrations on July 4.
Concerns about supply constraints rose as Houthi rebels in the Red Sea sank two cargo vessels and killed three crewmen in a fresh wave of assaults by the Iran-backed group in the crucial maritime trade route.
However, prices were pressured by reports that Saudi Arabia raised crude output far above its quota last month, joining others in a rush to export oil out of the Persian Gulf as Israel went to war with Iran.
As well, the decision by Opec+ to raise output in August to 548,000 bpd, 33% more than in the four months prior, exerted downward pressure on prices.
This story is from the July 14, 2025 edition of Bangkok Post.
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