Similarly,
Oil changes red, penalized trade:
Around 4:45 p.m., the Brent displayed a loss of 0.20% to $ 70.22 and WTI gave up 0.38% to 68.19 dollars. For example,
Oil prices went to negative terrain on Monday. In addition, retreating slightly because of trade tensions between the United States and the EU, a change of trend after initially been supported by an “important declaration” to come on Russia mentioned by Donald Trump.
“The concerns about the demand for oil is starting to reappear” with the new customs offensive in the United States. Similarly, AG analysts say.
The republican billionaire said he would impose customs duties of 30% on European products on August 1. Similarly, strengthening fears of weakened global economic growth and insufficient black gold demand to absorb supply on the oil market.
The European Commission also proposed Monday to the 27 countries of the European Union oil changes red, penalized trade of possible reprisals up to. 72 billion euros in the event of application by the United States of customs taxes from August 1.
A trade war between the EU. the United States is a factor in decreasing oil prices while the International Energy Agency (IAI) has already dropped on Friday its forecast for growth in oil demand for the year 2025, which would experience its lowest increase since 2009, outside the extraordinary year of COVVID in 2020.
Around 2:45 p.m. GMT (4:45 p.m. HEC), the price of the Brent de la Mer du Nord, for delivery in September, ceded 0.20% to $ 70.22.
Its American equivalent, the barrel of West Texas Intermediate, for delivery in August, lost 0.38% to 68.19 dollars.
The oil market nevertheless awaits an “important declaration” on Russia mentioned on Friday by Donald Trump in a telephone interview with the NBC channel. without giving more details.
“I oil changes red, penalized trade am disappointed by Russia. but we will see what will happen over the next two weeks,” he said against the backdrop of intensifying Russian strikes on Ukraine and diplomatic dead end.
The market “expects Russia to be struck by a series of more severe sanctions limiting its ability to sell in the global markets. ” said Susannah Streeter, analyst at Hargreaves Lansdown.
Russia is one of the first three gross producers in the world. the country is the second exporter of black gold behind Saudi Arabia, which makes the barrel very sensitive to its exports. New sanctions would be a factor in increasing prices.
Oil changes red, penalized trade
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