Oil Prices Fluctuate Amid Geopolitical Factors

Oil prices have experienced fluctuations due to geopolitical and economic factors, with a slight rise on Tuesday driven by optimism over potential flexibility in US President Trump's reciprocal tariffs and persistent tensions between Russia and Ukraine despite ongoing peace talks. On Monday, oil prices fell as investors considered the potential impact of US-brokered Russia-Ukraine peace talks that could lead to increased Russian oil supplies. The US is set to implement reciprocal tariffs on April 2, along with fresh sanctions on Iran, impacting oil market dynamics. OPEC+ plans to increase production next month, with some members making further output cuts to compensate for previous overproduction. Despite these developments, concerns over a global trade war and economic slowdown persist, potentially impacting future oil demand.