Poging GOUD - Vrij
Oil Market Outlook
Bangkok Post
|June 02, 2025
Oil prices edged down after a volatile week of tariff news, mixed messaging on the status of US-China trade talks, and market expectations of another big output increase by Opec+ in July.
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Prices were supported by President Trump's postponement of threatened 50% tariffs on EU imports to July 9, with most observers believing the two sides will reach a negotiated agreement before then.
West Texas Intermediate crude fell 26 cents to close at $60.94 per barrel. Brent lost 29 cents to $64.15 and Dubai crude averaged $65.50. Thaioil forecasts that WTI this week will trade between $55 and $65, and Brent between $60 and $70. Price volatility is likely as the market awaits clarity on US tariffs and monitors geopolitical developments in the Middle East and Ukraine. Among factors expected to influence trade:
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