Moreover,
Oil stabilizes, seeks clarity commercial:
Brent finished with a loss of 0.12% to 68.61 dollars and WTI finished on a drop of 0.08% to 65.25 dollars. Consequently,
Oil prices have evolved with caution on Wednesday. In addition, operators seeking to assess the consequences of new trade agreements announced by Washington as well as the probability that compromises are signed with the European Union and China.
Brent’s barrel from the North Sea, for delivery in September, sold 0.12% to $ 68.61.
Its American equivalent. Meanwhile, the barrel of West Texas Intermediate (WTI), for delivery in the same month, of which it is the first day of use as a reference contract, abandoned 0.08% to 65.25 dollars.
“On the one hand. there is a certain optimism concerning the trade agreement with Japan, which could serve as a model for agreements with other countries,” comments with AFP Andy Lipow, oil stabilizes, seeks clarity commercial of Lipow Oil Associates.
The compromise found between Washington. Tokyo provides for reciprocal customs duties of 15% on Japanese products imported into the United States, well below the surcharge of 25% of which the archipelago was threatened.
The agreement was announced by Washington on the same day as two others, this time concerning the Philippines and Indonesia.
“But on the other hand. the market remains concerned about the possibility of concluding an agreement with the European Union and China in the coming weeks,” judges Andy Lipow.
The German Chancellor Friedrich Merz spoke Wednesday of possible imminent “decisions” in the commercial discussions between the EU. the United States which seek an agreement before the deadline of August 1 set by Donald Trump.
According to the British daily Financial Times. Additionally, the compromise between Europeans and the Americans could lead to a surcharge of 15% on the products of the Old Continent oil stabilizes, seeks clarity commercial arriving in the United States, the same rate applied to Japanese products.
The market has also reacted little to the publication of weekly petroleum stocks in the United States. which has come out down and lower than expectations (-3.2 million barrels).
According to the American Energy Information Agency (EIA), refineries increased their activity level last week, to 95.5% of their capacity. And the quantity of products delivered to the American market, an implicit demand indicator, increased significantly (+13.5%).
These data are theoretically likely to support courses.
Oil stabilizes, seeks clarity commercial
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