
Crude Oil Outlook: Brent Climbs to $64.76 on Iran Export Threats, Down 8% in a Month Amid Tariff Turmoil
April 13, 2025: Crude oil prices saw a moderate recovery as Brent crude futures settled at $64.76 per barrel and West Texas Intermediate (WTI) closed at $61.50, both up by over 2% on Friday. The gains followed US Energy Secretary Chris Wright’s remarks suggesting a possible end to Iran’s oil exports, heightening geopolitical tensions.
However, the broader trend remains bearish. Brent is down 8% in the last month and 15% year-to-date (YTD) amid growing economic uncertainty due to US President Donald Trump’s tariff hikes, particularly the 145% duty on Chinese imports and Beijing’s retaliatory 125% tariff on US goods.
According to Kaynat Chainwala, AVP – Commodity Research at Kotak Securities, WTI’s rebound from Trump’s temporary tariff pause didn’t hold as the China exclusion dampened demand prospects.
Also Read: Ram Charan in Campa Cola Ad: Are South Superstars Redefining Indian Brand Endorsements?
Domestic brokerage Axis Securities offers the following trading strategy:
Key Technical Levels:
While the short-term momentum in crude oil has been supported by Iran-related developments, the longer-term trend remains under pressure from escalating trade conflicts, slowing global demand, and bearish projections by major financial institutions.
Tags: crude oil outlook, Brent crude price, WTI forecast, MCX crude levels, Iran oil export ban, Trump tariffs, China US trade war, oil demand 2025, Axis Securities crude tip, Goldman Sachs oil prediction
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