On July 28, 2025, the oil markets woke up to positive news. This was reported by Zamin.uz.
A new trade agreement was signed between the USA and the European Union, and negotiations on tariffs with China are ongoing. This situation has helped restore confidence in the global economy.
As a result, Brent and WTI oil prices have risen slightly. According to the new agreement, import tariffs between the USA and Europe are set at 15 percent.
This is significantly lower than the previously proposed level and serves to prevent a global trade war. It also reduces the negative impact on fuel consumption.
The price of a barrel of Brent oil reached $68.64, increasing by 0.29 percent. The price of the USA's West Texas Intermediate (WTI) oil was estimated at around $65.31, rising by 0.23 percent.
Another important factor affecting oil prices is the OPEC+ group's plan to gradually increase production. By September 2025, an additional 2.2 million barrels of oil are expected to be brought to the market, with this figure reaching 548 thousand barrels in August.
In addition to the agreement between the USA and Europe, negotiations on tariffs with China are also underway. High-level negotiations ongoing in Stockholm aim to prevent tariff increases that may come into effect in August.
This will ensure China's stable participation in the energy market and help maintain high global demand. At the same time, global markets are striving for peace and stability, which serves to ensure the stability of oil prices.
Economic cooperation and trade agreements are expected to have a positive impact on future changes in the oil market.
