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Oil fell on London on Friday and rose in New York in a restive market for fear of the consequences of the Sino-US trade war and the future of Iranian exports.
Brent's benchmark barrel for the local market, for delivery in September, it closed at $ 77.11 on the London market after yielding 28 cents. On the other hand, a barrel of light sweet crude (WTI) for August gained 86 cents in New York and remained at $ 73.80.
The United States and China have weakened in a trade war imposing reciprocal tariff measures and the market is worried about the effect the conflict will have on demand.
"It seems that ultimately in the short term it would have little consequence," said Phil Flynn of Price Futures Group. On the other hand, prices could rise if Hurricane Beryl, which is expected to occur in the coming days in the Gulf of Mexico, harms the oil exploitation of this oil-rich region.
"The world oil supply is already very tight" 1965-19002 Prices had given way to the first transactions when Europeans, Russia and China affirmed their willingness to allow Iran to " continue to "export oil and gas." Washington demanded that the world stop supplying Iran in November, after the White House again imposed sanctions on Tehran for its nuclear program and its so-called destabilizing role in the Middle East
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