On June 2, 2025, West Texas Intermediate (WTI), a leading U.S. crude oil benchmark, rose to around $61.90 per barrel during Asian trading hours, marking a 2.7% increase on the day. This rise is driven by renewed trade tensions and geopolitical risks in the Middle East. Market participants are closely watching how these risk factors affect the global oil supply and demand balance.
(Reference) Reuters: President Trump and President Xi Likely to Talk Soon on Trade
U.S. President Donald Trump has pointed to China's violations of trade agreements and has taken a tough stance on tariff policies. In response, U.S. Treasury Secretary Scott Bessent announced that President Trump and Chinese President Xi Jinping plan to discuss trade issues soon. Attention is particularly focused on efforts to resolve disputes over critical minerals.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, have decided to increase production by 411,000 barrels per day in July. This marks the third consecutive monthly increase following those in May and June. The move is explained as a measure supported by stable economic outlooks and currently low crude oil inventory levels.
(Reference) OPEC Official Statement (June 2025)
This production increase may suppress prices in the short term, putting competitive pressure especially on U.S. shale oil producers. However, supply-demand balance and geopolitical risks will continue to influence price directions, adding uncertainty to future market movements.
The market is also awaiting the release of the U.S. May ISM Manufacturing Purchasing Managers' Index (PMI). If results exceed expectations, the dollar may strengthen, putting downward pressure on WTI prices priced in USD. Conversely, disappointing results could weaken the dollar and support higher crude prices.
(Reference) Trading Economics - U.S. Manufacturing PMI Latest Data & Trends
WTI is a light, sweet crude oil produced in the United States, known for its low sulfur content and ease of refining. It is distributed through the Cushing, Oklahoma hub and serves as one of the main price benchmarks in the global crude oil market. WTI prices are frequently reported by media and heavily influence decisions by investors and companies.
(Reference) EIA: WTI Crude Oil Price Trends
As long as international trade policy remains uncertain and geopolitical risks in the Middle East persist, WTI prices are expected to remain volatile. Investors need to respond sensitively to these political and economic developments, balancing short-term trading strategies with long-term investment decisions. Additionally, OPEC+'s production policies and U.S. economic data releases will be key price drivers, making continuous information gathering and risk management essential.
For those who want to stay updated with the latest FX news and analysis, please visit:
FIXIO Blog
※This article is intended for informational purposes only and does not constitute specific investment advice. Final investment decisions are the responsibility of the individual.
This article summarizes recent WTI crude oil price movements driven by U.S.-China trade tensions, Middle East geopolitical risks, and OPEC+ production increases. It highlights market caution before the U.S. ISM Manufacturing PMI release and explains WTI’s role as a key benchmark. The content helps investors understand factors affecting oil price volatility and manage risks.
Superior trade execution & trading conditions with the NDD method.
The online FX industry provides a platform for investors worldwide to engage in the buying and selling.
Subscribe to our daily newsletter and get the best forex trading information and markets status updates
Trade within minutes!
Comment (0)