London oil "goes bankrupt" on the ground of 73 dollars

Oil futures in Europe and the United States began the week with losses of more than 3%, amid signs of an imminent avalanche of oil supplies. Saudi Arabia to the United States. 19659002] In New York, futures contracts fell, as the Saudis offered additional supplies of crude oil to Asian customers, according to people familiar with the US business.

Donald Trump He was looking at options ranging from a test sale of 5 million barrels to more than 30 million barrels of the strategic oil reserve. Meanwhile, a senior Iranian official urged Trump not to use emergency supplies and urged the US president to withdraw the sanctions.

At 10:55 local time in Mexico City, a barrel of Brent crude oil for will fall in September from 4.14% to $ 72.21 at the Intercontinental Petroleum Exchange (ICE) future of London, its biggest intraday decline since April 16 when it hit $ 72.02

E at the New York Mercantile Exchange, a barrel of WTI crude in New York City for the month of 39 August "It seems like a continued reaction to the potential increase in supply," said Bart Melek, head of Global Commodity Strategy at TD Securities in Toronto. . "The combination of the effect of supply and the potential for declining demand as a result of the business problems we are seeing is pushing people to pull off some of the longest oil wagers right now."

While Saudi Arabia has taken steps to keep its promise to offset the supply losses of other OPEC countries, the Russian Minister of Energy, Alexander Novak , said the cartel and its allies could increase production by more than a million. barrels per day if necessary. At the same time, investors focused on trade tensions between the United States and China that could threaten energy demand.

"There is no shortage of bullish news on the supply side, but they may be overtaken by the President's talks by turning to the US SPR to maintain oil prices this summer," he said. Harry Tchilinguirian, head of commodities strategy at BNP Paribas SA in London

With information from Reuters and Notimex.