Brent oil price rose to $ 67 per barrel
Brent oil quotes on the spot market played a noticeable part of a decrease in the first decade of April. During the trading of April 17, they rose to $ 67 per barrel, adding 15%from the local minimum. Improving the mood of investors is facilitated by the hope that the United States and China will be able to agree on tariffs, like most other countries in respect of which the introduction of the main measures was transferred for 90 days. However, analysts are waiting for the resumption of the game to lower in the near future.
According to Investing.com, on April 17, the price of Brent oil on a spot market rose to $ 67 per barrel, a maximum in two weeks. This result exceeded a 2.5% close value of the previous day and by a 15% local minimum set a week earlier. Thus, prices played most of the fall of the first half of April, when they updated the long minimum (See “Kommersant” from April 5). However, while prices remain 10% lower than the values on which were at the beginning of the month.
Correction in the oil market was expected, since the reaction to the introduction of widespread duties by the administration of Donald Trump was excessively emotional, analysts note.
Moreover, most of the tariffs were almost immediately “paused”. The issue of mutual duties between the United States and China remained open, which managed to raise them to 145% and 125%, respectively. However, on the eve, on Wednesday, the Bloomberg agency, citing sources, reported that China was ready to negotiate with the United States on tariffs, but subject to Beijing respect and restraining neglecting statements in his direction. “The potential dialogue of China and the USA indicates the possibility of reducing duties and less risks for the global economy,” said Kirill Bakhtin, senior analyst BCS Investment.
The statement of the press secretary of the State Department Tammy Bruce that the US President intends to continue to continue the maximum pressure on Iran, as well as reduce the illegal export of Iranian oil both to China and other countries to zero, added optimism. “Reducing Iranian oil supplies to international markets is a clear factor in a decrease in supply, and therefore, support for oil prices,” says Mr. Bakhtin.
Donald TrumpUS President, April 17, 2025, Quote for Interfax:
“Oil prices are reduced, food (even eggs!) Food is cheaper, and the United States is rich at the expense of duties.”
At the same time, analysts doubt that prices will continue confident growth and return to the levels that preceded the escalations of the trade war. “News about the trade war and the slowdown of key economies (USA, China) continue to be a significant negative risk for oil prices in this and 2026,” said Igor Danilenko, head of the Renaissance Capital Assets Department. In addition to the risk of geopolitics, analysts have to take into account the risk of rash decisions of OPEC+countries, which in early April have already announced more strongly than the market expected to increase production (See “Kommersant” from April 4). “The main risk in the alternative scenario we see the collapse of the OPEC+agreement. If this happens, then the price of oil can fall below $ 60 per barrel, ”says Nikolai Dudchenko, analyst FG Finams. At the same time, in the basic script, Finam analysts expect this year the excess of the average oil level of $ 70 per barrel.
Oil price restoration had a limited impact on the Russian stock foreign exchange market. During the trading of Thursday, the Office Return of the dollar dropped by 83 kopecks., Up to 82.17 rubles./$. The stock market reaction was even weaker – according to the results of the day, the Moscow Exchange index grew by only 0.12%, to the mark of 2865.32 points. “Oil prices are now lower than the values laid down in the Russian budget, especially in rubles, all this will negatively affect the key public raw materials in the index,” says Igor Danilenko.
