Oil prices edged higher on July 16, 2025, supported by robust summer demand from the U.S. and China, even as concerns over global economic growth persisted and recent tariffs weighed on sentiment.
Brent crude rose 0.2% to $68.84 a barrel and U.S. West Texas Intermediate (WTI) increased 0.4% to $66.77.
Trading data confirmed this modest rebound, with Brent marking $68.51 and showing a one-day dip of 0.30%, while WTI hovered around $66.11—0.62% lower than the previous session.
Analysts noted that increased travel during the Northern Hemisphere summer and a surge in Chinese oil processing up 8.5% year‑on‑year in June underpin the market, even as overall economic uncertainty constrained stronger gains.
Geopolitical shifts also influenced prices. Investors are monitoring U.S. tariff policies linked to Russia and ongoing tensions in the Middle East.
However, a 50-day grace period announced by President Trump on Russian oil sanctions eased immediate supply worries, contributing to the slight uptick.
Looking ahead, seasonal demand is expected to remain a supportive factor, though analysts caution that without fresh geopolitical shocks or clear signs of economic recovery in Asia, the market may stay range-bound between $65 and $70 a barrel.
OPEC+ production increases and stable inventories could offset summer-driven gains.
Written By Ian Maleve
