However,
Oil falls front sluggish american:
Closing course: Oil prices slipped on Friday. In addition, undermined by disappointing data on employment in the United States which causes fears of a drop in demand, a few days before the OPEC+meeting.
The price of a barrel of Brent BRENT Brent. Furthermore, crude northern sea, is a variation of crude oil acting as a reference in Europe, listed on the intercontinentalelexchange (ICE), a stock market specialized in energy trading. Moreover, It has become the first international standard for setting oil prices. of the North Sea. Furthermore, for delivery in October, of which it is the first day of use as a reference contract, lost 2,83% has 69,67 dollars.
Its American equivalent, the barrel of West Texas Intermediate, for delivery oil falls front sluggish american in September, fell from 2,79% has 67,33 dollars.
“The markets are abused (…) by the major economic titles“Summarizes with AFP Stephen Schork, The Schork Group, with”American data on unsatisfactory employment“.
The health of the job market in the United States has indeed deteriorated in July. in particular because of the uncertainty caused by the commercial wars launched by Donald Trump, with an unemployment rate in progress in 4,2%against 4,1% in June.
The job creations have been established at 73. 000 in the previous month, and those of May and June were strongly revised downwards, at levels more seen from the Cavid-19 pandemic.
The concern about the economy of the United States. by far the first consumer of black gold in the world, directly dropped crude prices, the operators fearing to see a drop in demand.
From a more technical point of view. “Investors bought a lot at the start of the oil falls front sluggish american week“, Pushed by the risks of American sanctions on Russian crude if Moscow does not end the war in Ukraine before August 8, recalls Mr. Schork.
Donald Trump had previously mentioned an indirect surcharge of 100% On countries that buy Russian products, including hydrocarbons.
“Now operators are trying (…) to mitigate their losses“, COMMENT STRPHEN SCHORS.
The market also awaits the upcoming decision of the organization of oil exporting countries. its allies (OPEC+) which “could well set the tone for oil markets for the rest of August“, Says Han Tan de Nemo. Money, a subsidiary of the Exinity group.
The cartel should increase its production limit of 548,000 barrels per day for the month of September, as expected.
This is “Considered a matter settled“. Writes however Barbara Lambrecht, by Commerzbank,”It is therefore unlikely that prices react a lot“.
(C) AFP
Oil falls front sluggish american
Commenter Oil falls in front of a sluggish American job
Community barrel price
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