Oil up 4% at colonization as trade fears subside



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DirectOil prices rose nearly 4% on Tuesday, peaking at two weeks due to lower trade concerns.

Crude oil prices were supported by strong rises in US stocks during the late-deal negotiations and imposed tariffs on certain commodities from China to the United States. mid-December.

The easing of trade tensions will ease concerns about slowing demand for crude, which had put pressure on prices earlier in trading.

Last week, the International Energy Agency (IEA) lowered its estimate of global oil demand growth in 2019 and 2020 to 1.1 and 1.3 million barrels a day, respectively.

In another context, the US Energy Information Administration expects shale oil production to increase next month to a record level of 8.77 million barrels per day

The American Petroleum Institute is expected to announce its oil stocks later in the day last week.

In the transaction, the price of futures for the US crude "Nymex" to be delivered for September was about 4%, reaching $ 57.10 per barrel, the highest level of the most active contract since last July 31st.

At approximately 18:45 GMT, Brent futures for October delivery rose 4.5% to $ 61.21 per barrel.

Direct (economy)

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