Meanwhile,
Oil agreement between beijing washington:
Around 11:15 am, Brent took 0.86% to $ 68.31. Similarly, Its American equivalent, the barrel of West Texas Intermediate, scored 0.81% to 65.77 dollars. Meanwhile,
Black gold courses are progressing on Friday. However, carried by the trade agreement between China and the United States, confirmed by Beijing, which attenuates fears about global demand.
According to China. this agreement provides that Washington raises certain restrictions against it, while it could validate the export of more articles subject to control.
He followed talks in Geneva in May. after which the two parties had agreed to temporarily reduce the prohibitive customs duties they imposed on their respective products.
Around 9:15 a.m. GMT (11:15 a.m. HEC), the price of the Brent of the North Sea, for delivery in August, took 0.86% to 68.31 dollars.
Its American equivalent, the barrel of West Texas Intermediate, for delivery oil agreement between beijing washington the same month, scored 0.81% to 65.77 dollars.
These “positive news could improve the expectations of global demand. help establish an oil floor near the $ 65 mark,” notes Ipek Ozkardeskaya, analyst for Swissquote Bank.
The trade appeasement between Beijing. Washington has also lowered the dollar, which mechanically affects oil: black gold being denominated in the American currency, it therefore becomes technically cheaper for other countries when the greenback drops.
Hangled in recent times by world geopolitical upheavals. especially the war between Iran and Israel, the markets had integrated a “risk premium” which had significantly increased the price of black gold.
But it was “quickly evacuated” with the ceasefire concluded this week between the two belligerents. the fear of disturbances in the Strait of Ormuz, where 20% of world oil transits, not having materialized, notes Kathleen Brooks, of the XTB broker
Ultimately “the price of Brent oil fell 11 % oil agreement between beijing washington this week,” she said.
But according to Han Tan, from Nemo.Money. “an important short -term risk factor” persists for the oil markets: “the next production decisions” of the organization of oil exporting countries and its allies (OPEC+), which has large available reserve capacities.
Oil agreement between beijing washington
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