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West Texas Intermediate Price (WTI) closed higher on Thursday (July 20th). Saudi Arabia will reduce its oil exports next month To avoid oversupply in the market, the market has also been positively affected by the weakening of the US dollar. After President Donald Trump accused China and the European Union of shaking up money to harm the US economy.
Oil prices were boosted by the release of Saudi Arabia. Oil exports from Saudi Arabia will drop by 100,000 barrels a day next month. Taking into account the release of crude oil in Oklahoma City, the US crude oil futures delivery point fell by 1.8 million barrels, or 6.2%, on Tuesday
. . Up $ 1, or 1.4%, to $ 70.46 per barrel
Brent crude for September delivery. Up to 49 cents, or 0.7%, to close at $ 73.07 a barrel.
However, considering the entire week Oil prices have declined because of oil spill And the trade war between the United States and its trading partners. This will affect the growth of the global economy. Including the demand for oil.
The weak dollar will increase the attractiveness of the oil contract. By making the contract cheaper for holders of other currencies
President Donald. The tweets tweeted last night accusing China and the European Union of shaking up money to harm the US economy.
"China and the European Union And Other Countries, Turning Money And Lower Interest Rates." The United States Raises Their Rates. interest and the dollar appreciates every day the US loses its competitiveness
The dollar is also put under pressure by President Triet's tweet to criticize the monetary policy of the Fed
– InfoQuest 02-2535000 Email: [email protected] –
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