The gross barrel in the United States "gains strength" by trading at more than 73 dollars

LONDON – Crude oil prices show mixed trend movements close to closing, with Brent of London trading above $ 77, driven by an increase in output Saudi Arabia and trade tensions between the United States and China, despite support for interruptions in the supply of crude oil.

At 12.30 local time in Mexico, the contract for the Bre reference nt on the London ice market fell 0.37% to 77.12 dollars a barrel.

The WTI petroleum reference in the United States increased 1% to 73.67 dollars per barrel on the New York Mercantile Exchange (Nymex).
"Saudi Arabia and Russia are keeping their promise to increase production," oil broker PVM badysts said, adding that "the imminent sanctions against Iran are causing serious concern among the players. of the market". "they added.

Saudi Arabia, the world's largest oil exporter, told OPEC that it had increased its production by nearly 500,000 barrels a day last month, according to cartel sources , a sign that Riad wants to make up for the shortage and contain the prices.

On the other hand, oil prices are falling back in the tension created by the trade dispute between the United States and China, after Washington introduced a series of tariffs on Chinese products.

China said it would retaliate, and major Chinese ports have already delayed clearance of goods from the United States, according to several sources.

"We are moving toward an unprecedented trade conflict between the world's largest economies," said Stephen Innes, chief of Asia-Pacific operations at Oanda's brokerage firm.

As part of the retaliatory measures, Beijing threatened to impose a 25% tariff on imports of crude from the United States, but did not specify a specific date.

The United States sends about 400,000 barrels a day of crude oil to China, worth a billion dollars a month at current prices. The tariffs would make US oil uncompetitive in China.

A cadre of the Chinese Dongming Petrochemical Group said he hoped Beijing would soon impose the tariff on US oil imports.

The potential trade war between the United States and China occurs in the midst of a tight oil market.

Energy consultant FGE warned Friday of imminent shortage of supplies due to US sanctions against Iran and interruptions elsewhere.
"Venezuela … will lose another 400,000 barrels a day by the end of the year, with production below one million barrels a day," said FGE, and 300,000 barrels per day. Libyan capacity day were affected.

With information from Reuters, Notimex and Bloomberg.