If, as a result of negotiations, the threat of additional penalties and second duties is removed, oil prices will decrease even further, the market analysts predict.
Oil prices in the world have been reduced against the background of the first results of US President Donald Trump’s negotiations with the President of Ukraine Vladimir Zelensky and European leaders. This was proven by the results of the trading on Tuesday, August 19.
So, up to 13:30 at KYIV, the cost of October futures with various Brent in exchange of Ice Futures London was $ 65.19 per barrel. This is $ 0.77 (1.16%) less than closing the previous bidding. On Monday, these contracts rose $ 0.75 (1.14%) to $ 66.6 per barrel.
WTI oil futures for September in electronic trading in the New York Model Exchange (NYMEX) fell $ 0.76 (1.18%)-up to $ 61.96 per barrel. According to the results of the previous session, the cost of these contracts increased by $ 0.62 (0.99%) to $ 63.42 per barrel.
As you know, yesterday, American president Donald Trump expressed hope for organizing three -way negotiations between the USA, the Russian Federation and Ukraine, which, according to him, will finally resolve the war.
“Most issues, including cessation and safety guarantees, as well as how the peaceful regimen will open, has not been resolved. The result, which will lead to a reduction in tightening and eliminating the threat of additional penalties or second duties, will help reduce oil prices,” said TD Securities Bart Melek in the comments for Wall Street Journal Comments.
According to his forecast, “the result of which the United States will put pressure on Russia in the form of a second role for its oil consumers (such as those who are now threatening India), of course, will lead to an increase in oil amounts to the maximum recorded a few weeks ago.”
Earlier on Tuesday it was learned that the Chinese refinery had strictly increased the purchases of Russian oil oils, taking advantage of the fact that India had reduced imports due to increasing American duties.
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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.