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

Odaily Odaily reports Brent crude oil edged lower in early trading after settling above $100 per barrel, but remains on track for a weekly gain of over 12% as threats to shipping in the Red Sea raise concerns about further supply disruptions. The global oil benchmark, Brent crude, fell 1.3% intraday 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, based on the price surge seen in the early stages of the conflict, if Brent crude approaches $120 per barrel, pressure to de-escalate the situation will significantly increase. For Iran, the more pressing issue is not the high or low oil price, but how long it can withstand a sharp decline in oil revenues under a U.S. blockade. (Jin Shi)