Oil prices gained in Asian trading Tuesday after Israel launched airstrikes on Gaza, allegedly violating a ceasefire following failed hostage negotiations. Brent crude rose 0.4% to $71.32 per barrel, while WTI climbed 0.4% to $67.61.
The strikes, Israel’s most significant escalation since January, targeted Hamas positions, leaving at least 100 dead, according to Gaza’s Health Ministry. Prime Minister Netanyahu authorized the attacks after Hamas rejected ceasefire extension proposals and refused hostage releases. The ongoing conflict raises concerns over potential energy market disruptions in the Middle East.
Meanwhile, investors await the Federal Reserve’s March 18-19 meeting. The Fed is expected to maintain interest rates at 4.25%-4.50%, with traders closely watching its stance on Trump-era tariffs and their economic impact. Rising trade tensions have pressured oil prices, with Brent crude recently hitting three-year lows near $70 per barrel. Higher interest rates could strengthen the U.S. dollar, making oil more expensive for non-dollar holders, potentially reducing demand. The U.S. Dollar Index edged up 0.1% during Asian trading.
Geopolitical risks continue to support oil prices. The U.S. pledged ongoing airstrikes against Yemen’s Iran-backed Houthis, aiming to secure Red Sea shipping routes. Disruptions in this key trade corridor could further impact global energy markets.
China, the world’s largest oil importer, recently announced measures to boost domestic consumption, aiming to shift economic reliance to internal demand. Strong industrial production growth of 5.9% in January-February and a 4% retail sales increase have fueled optimism about oil demand recovery.
With global conflicts and economic policies in focus, oil markets remain volatile as traders navigate uncertainty over supply risks and monetary policies.


Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings
Thailand Inflation Remains Negative for 10th Straight Month in January
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 



