Oil prices little changed as market awaits impact of US tariffs on India
1. Oil prices are stable as U.S. tariffs on India are expected. 2. India's crude purchases from Russia could influence future oil supply.
FAQ
Why Bearish?
Expected tariffs may lead to reduced oil demand from India, historically leading to price drops.
How important is it?
New tariffs could decrease India's demand for crude, impacting oil ETF BNO's price.
Why Short Term?
Immediate response to tariffs may create volatility in oil prices soon after implementation.