Crude faces volatile week as W Asia supply risks keep mkts tense: Analysts
Crude oil prices are poised for another volatile week, with supply worries in West Asia keeping markets on edge and stalled US-Iran talks adding to fears of fresh disruptions, even as efforts to ease shortages offer some relief, analysts said.
Investors will track weekly crude stocks data from the American Petroleum Institute (API), Cushing inventories, overall US oil stocks and crude imports for signals on the supply-demand balance.
The Strait of Hormuz remains a key source of uncertainty, with any disruption to shipments through the critical waterway threatening to further tighten global supplies.
The domestic commodities market will remain closed during the morning session on Tuesday due to Dussehra.
"Our outlook remains cautiously bullish, with price movements likely to be driven primarily by geopolitical developments and actual supply disruptions rather than headlines alone," said Ajit Mishra, SVP of Research at Religare Broking.
Recent declines in US crude inventories have .
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