Oil Prices Stabilise Amid Continued Geopolitical Tensions in the Middle East:
Geopolitical tensions in the Middle East continue to impact oil prices.
Futures contracts for West Texas Intermediate crude settled at $76.84 per barrel on Friday,
while crude inventories rose by more than 5 million barrels, surpassing market expectations.

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Stability in Oil Prices Amid Ongoing Geopolitical Tensions in the Middle East
American Consumer Prices and Their Impact Amid Negative Expectations:
Euro Recovers After Reducing Expectations of ECB Rate Cuts:

Stability in Oil Prices Amid Ongoing Geopolitical Tensions in the Middle East

Futures contracts for West Texas Intermediate crude settled at $76.84 per barrel on Friday,
marking an increase of over 6% during the week.
These increases were driven by continued geopolitical tensions in the Middle East,
where occupying forces continued military operations in Gaza and conducted airstrikes near the Egyptian border. Additionally, the United States carried out a drone strike in Baghdad,
further escalating tensions with the Iraqi government, a significant oil-producing state.
Official data showed a significant decrease in US gasoline inventories,
while crude inventories rose by more than 5 million barrels, surpassing market expectations.

American Consumer Prices and Their Impact Amid Negative Expectations

After Federal Reserve members stated last week that the Fed is not compelled to cut rates early in March,
especially amidst uncertainty about inflation falling towards the targeted 2.0%,
attention turns to American consumer prices during this week’s trading sessions.
Experts anticipate a decrease, with annual consumer prices expected to drop from 3.4% to 2.9%.
Should this materialize, we might witness a significant correction in the dollar index,
pushing expectations for a cut in May and potentially negatively affecting
the dollar index while positively impacting gold.
Notably, an increase in American consumer prices,
contrary to expectations with a reading higher than 2.9%, will reduce expectations for a cut in May,
possibly leading to continued dollar appreciation and negative gold sentiment,
as such positivity reinforces the Federal Reserve’s uncertainty stance.

Euro Recovers After Reducing Expectations of ECB Rate Cuts:

The euro saw gains in the European market last week against a basket of global currencies.
It maintained its gains for the fourth consecutive day against the US dollar,
as a result of continued recovery from a three-month low and buying operations from low levels.
Some officials at the European Central Bank offered comments reducing the likelihood
of early European interest rate cuts,
alleviating concerns about widening interest rate differentials between Europe and the United States.
Isabelle Schnabel, a member of the European Central Bank,
commented, “Recent economic data and strong market expectations

regarding rapid interest rate cuts indicate the necessity for the
ECB to exercise patience before deciding on easing monetary stimulus policies.”

Oil Prices Stabilise Amid Continued Geopolitical Tensions in the Middle East