21.05.2025
Market commentary on heating oil 29.07.2025
Oil prices have been moving sideways for weeks, with quotations currently remaining at a significantly lower level than in the first quarter of the current year. Due to increased rainfall over the past two weeks, the freight situation on the Rhine has eased.
Otherwise, the market is basically in a political stalemate: although there is a lot of speculation and ranting internationally in connection with the Ukraine conflict, a solution still seems miles away. Nervousness on the global trading markets has eased somewhat since the American President, in a flash of economic reason, revised his tariff policy – at least temporarily. Even though the tariff issue does not seem to be over yet, there are signs of renewed optimism on the stock markets that the economy could get back on track to some extent. The situation in and around Israel is currently tense again, the Gaza Strip remains turbulent, and there are even recent reports that the Israelis are planning a pre-emptive military strike on Iranian nuclear facilities.
As always, the OPEC+ cartel is keeping a close eye on price developments: if prices start to fall for whatever reason, it is likely that the united oil producers, led by Saudi Arabia, will adjust their strategy on an ongoing basis to prevent a collapse in prices.