Oil prices were steady on Wednesday after falling for three consecutive sessions as a U.S. tariff deal with Japan improved global trade sentiment. Brent crude futures were down 12 cents, or 0.2%, at $68.

Big oil companies are forecast to post their lowest quarterly profits in four years after geopolitics whipsawed prices and left some of their traders on the wrong side of the volatility.

The crude oil market looks a bit soft in the early part of the Wednesday session, as we are trying to break below a major support region. At this point, we are looking to see a bounce, but the real question will be “Can we get one?

US President Donald Trump announced that US imports from Japan will have a tariff of 15 per cent now. In addition to this, Japan has also agreed to invest around $550 billion in the US.

Brent crude oil prices hit their all-time high of $147.50/bbl during the oil market boom in July 2008. However, WTI futures contract prices dropped to as low as negative $40/bbl on April 20, ...

The crude oil market continues to see a lot of noisy behavior on Tuesday, as we are now testing the bottom of the overall recent range in this market. At this point in time, we are looking to see if the buyers will protect the support zone.

The market had been rattled after the EU signalled it may pursue countermeasures against US tariffs, dampening expectations for a breakthrough in negotiations ahead of the August 1 deadline.

Crude oil futures pull up from earlier lows, but not enough to avoid a fourth consecutive session of losses with prices consolidating as the market awaits more clarity on the outcome of U.S. tariffs and sanctions against Russia.