Traiders continue to emerge from dangerous property, fearing that the trade war will lead to weakening of oil demand.
Oil prices in the world accelerate the decline against the background of increasing trade intensity and “piercing” the psychological level of $ 60 per barrel. This has been proven by the results of the trade on Wednesday, April 9.
Thus, June futures in various Brent oils are sophisticated at $ 4.03 (6.42%) to $ 58.72 per barrel in the ice exchange. And the Mayo Futures for the WTI brand fell at the price of $ 4.02 (6.75%) up to $ 55.56 per barrel. Both contracts have been updating the minimums since February 2021.
According to Western agencies, merchants continue to emerge from dangerous property, fearing that the US trade war launched by the United States will lead to strengthening inflation and weakening global economic growth, and, accordingly, oil demand.
As you know, on April 9, the major duties of the United States related to foreign trade partners are entered. At the same time, the total amount of roles for China rose to 104%.
In this regard, China today announced 84% for goods from the United States. He will start acting on April 10.
Prices also affected the decision of OPEC+ countries to increase oil production and the actions of Saudi Arabia, which reduced sales prices for “black gold”.
Investors predict the fall of oil prices up to $ 40
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.