On Friday, traders significantly increased their activity in West Texas Intermediate (WTI) crude oil call options priced at $80, anticipating further price gains following heightened geopolitical tensions in the Middle East. The escalation began with Israeli airstrikes targeting Iranian positions, intensifying fears of a broader conflict in the region—a key factor influencing global oil markets due to the Middle East's critical role in energy supply.

Oil prices began Tuesday's Asian trading session with notable gains as geopolitical and environmental factors reignited fears of supply shortages. Brent crude futures climbed by 55 cents, or 0.85%, reaching $65.18 per barrel by 00:00 GMT. U.S. benchmark West Texas Intermediate (WTI) followed suit, increasing by 59 cents, or 0.94%, to $63.11 per barrel. These gains extend the momentum from the previous trading day, where both benchmarks posted a nearly 3% rally.

In April, a significant decline in Saudi crude oil shipments to China – the largest buyer of this resource – is expected. Sources in the trading sphere have indicated that the volumes will drop to their lowest levels in over a year. Experts primarily attribute this trend to technical maintenance at Sinopec refineries in China.

In January, Brazil's trade surplus experienced a significant drop of 65.1% compared to the same month last year. This decline was attributed to a robust increase in imports alongside a drop in exports, highlighting key dynamics in the country's trade landscape.