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Oil prices experienced a modest increase on March 18, 2025, influenced by geopolitical tensions in the Middle East and economic stimulus measures from China. Brent crude futures rose by 0.2% to $71.24 per barrel, while West Texas Intermediate (WTI) crude futures increased by 0.2% to $67.72 per barrel.
The escalation in the Middle East stems from U.S. military actions against Yemen's Houthi rebels, raising concerns about potential disruptions to oil supplies in the region.
China's State Council unveiled a special plan to boost domestic consumption, further supporting oil prices.
However, gains were tempered by ongoing concerns about global demand, influenced by U.S. tariff policies and ceasefire discussions between Russia and Ukraine.
