The oil market is a pressure of a global trade war, which exacerbates prospects for demand for “black gold”.
Oil prices in the world continue to decline on Wednesday and end April the largest monthly fall for more than three years. Reuters writes about this on April 30.
Thus, the cost of June Futures to various Brents at the Ice Futures London Exchange according to 11:15 in KYIV was $ 62.21 per barrel, which was 1.69% lower than closing past trading.
WTI oil futures for June at the New York Model Exchange (NYMEX) electronic auction fell 1.84% to $ 59.31 per barrel.
In general, in April, Brent lost 15%in price, and WTI – 17%. The decline of excerpts this month has been the highest since November 2021.
As you know, oil prices collapsed after Donald Trump announced new tariffs for all imports to the United States on April 2, and steps in response from China fully sent quotes to minimums to four years.
“The recent signs of de -scalation of trade wars, including two commands that Trump signed on Tuesday, to soften the blow from his car tariffs, which has somewhat reduced to the world’s investors,” the agency wrote.
Further pressure on the market on Wednesday was given data on a reduction in business activity in the Chinese Industrial Sector. The manager of the acquisition manager (PMI) in this sector fell from April to 49 points from March 50.5 points.
In addition, estimates by the American Oil Institute (API) showed an increase in oil reserves in the United States last week by 3.76 million barrels.
Note that in Russia they have significantly reduced expectations for oil prices in 2025. Each dollar, reduced by oil prices, costs the Budget of the Russian Federation about 160 billion rubles of income each year.
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Source: korrespondent
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