[ad_1]
Photo illustration Photo: TASR / AP New York, July 21 (TASR) – Oil prices fell for the third week in a row. The assurance of Saudi Arabia not to flood the oil market would not be enough to offset a 4.2% drop in prices since the beginning of the week.
In addition, Friday (20.7.) Oil lost some of its previous profits. conflicts can reduce the demand for energy. US President Donald Trump has declared himself ready to impose duties on imports of all Chinese products. In addition, he accused China and the European Union (EU) of monetary manipulation.
Oil prices rose after Saudi Arabia, pushing Trump to cut prices by increasing supplies, announced that its exports would stagnate in July.
August WTI crude oil contract, which expired Friday, drew $ 1 or 1.4% on the New York Stock Exchange this week, closing at $ 70, 46 ($ 60.38) a barrel. In the last week, however, he lost 0.8%. The total volume negotiated was 38% lower than the 100-day average. September 1961: Brent crude futures rose Friday by 49 cents, or 0.68 percent, to $ 73.07 a barrel
The Brent Crude oil futures futures barrel. It has dropped 3% over the last week.
The price of US crude oil has dropped about 5% since the beginning of July. The reason is the escalation of the US-China trade war, which has scared the global financial markets.
Friday's oil prices also favored a weaker US dollar that provoked Trump's statements on monetary policy. Trump criticized the US Central Bank (Fed) for raising interest rates. (19659005) Source: Teraz.sk, the news agency of the TASR News Agency
[ad_2]
Source link
