FX.co ★ Oil Ticks Up Amid Geopolitical Risks

WTI crude oil futures increased to $61.2 per barrel on Monday, continuing Friday's upward trend with gains exceeding 2% amid escalating geopolitical tensions. The situation in the Middle East was closely watched as reports emerged of a U.S. aircraft carrier strike group being stationed near Iran, part of a growing military presence due to rising tensions with Tehran. This development has sparked concerns over a possible escalation that could impact regional energy supplies. In trade matters, uncertainty persisted after President Donald Trump threatened to impose 100% tariffs on Canada if it pursued a trade agreement with China. Meanwhile, negotiations facilitated by the U.S. between Russia and Ukraine ended without a resolution, though both parties committed to resume discussions in the following weekend. Counterbalancing these geopolitical factors, Kazakhstan’s oil exports are anticipated to return to normal following repairs to an offshore mooring facility.