23:43 – Oil rises in a market sensitive to tensions between Iran and the United States

Oil prices rose slightly on Tuesday in a hesitant market between fears of major supply disruptions, particularly from Iran, and the risk of lower demand driven by the US-led trade war. In London, Brent crude oil from the North Sea for delivery in September rose 38 cents to close at $ 73.44 on the Intercontinental Exchange (ICE). On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude (WTI) for the same maturity gained 63 cents to end at 68.52 dollars. The crude market continues to observe trade between Tehran and Washington, which in May called on all countries to completely stop their imports of Iranian oil by Nov. 4 if they wanted to avoid sanctions. Leaders of both countries have engaged this weekend and Monday to strong threats. But the momentum of oil prices on Monday "has given way to concerns over an oversupply of supply," said Stephen Innes, an badyst at Oanda. "The macroeconomic picture wins, Saudi Arabia and Russia increase production to offset the loss of Iranian production, while the trade war continues to raise concerns about global growth," he said. In a worse economy, the demand for crude tends to decrease. Tuesday's announcement by Beijing of measures to boost growth should, however, "help ease the fear of falling oil demand due to a slowdown in the Chinese economy," said Phil Flynn of Price Futures. Group. Markets are also waiting Wednesday for publication of weekly data from the US Energy Information Agency on US oil inventories stopped July 20, after the very strong variations observed in previous weeks. Analysts are forecasting a decline of 3.1 million barrels of crude inventories, about 1.2 million barrels of gasoline reserves and an increase of 550,000 barrels of other distillate products (fuel oil). heating and diesel), according to the consensus median compiled by Bloomberg. The professional federation of the American petroleum institute (API) will publish its own figures on the subject on Tuesday after the European closing. (Belga)

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