Market Focuses on Trump Administration's Negotiation Pressure, Brent Crude Oil Set for 12% Weekly Gain

Odaily Planet Daily News: Brent crude oil edged lower in early trading after closing above $100 per barrel, but is still on track for a weekly gain of over 12% as threats to Red Sea shipping fuel concerns about further supply disruptions. The global oil benchmark, Brent crude, fell 1.3% during the session to $99.39 per barrel, while WTI crude futures dropped 1.4% to $90.89 per barrel.

Analysts at ING said: "The key question is at what oil price level the Trump administration will face pressure to return to the negotiating table." They noted that, referencing the oil price surge during the early stages of the conflict, if Brent crude approaches $120 per barrel, pressure to de-escalate the situation will increase significantly. For Iran, a more pressing issue is not how high oil prices are, but how long the country can withstand a sharp decline in oil revenues under the U.S. blockade. (Jin Shi)