What to Watch in Oil Markets This Week

Oil prices moved higher in early Asian trade on Monday after the U.S. and EU reached a tariff agreement, averting a major trade war. The framework sets U.S. tariffs on most EU goods at 15%, down from previously threatened levels, and includes EU commitments to purchase U.S. energy and invest in American industry. The agreement helped shore up demand sentiment—but traders remain cautious ahead of what is set to be a big week for oil prices. Attention now turns to the OPEC+, with a Joint Ministerial Monitoring Committee convening on Monday…