Oil price increases in anticipation of easing the trade situation

  • And
  • +A

Oil prices on Monday after falling in the early afternoon, went to growth and rose to around $ 59 a barrel of Brent crude on the background of statements of the President of the United States Donald trump about the prospects of trade relations with China. He said that in the near future the parties will probably come back to negotiations, and did not rule out the possibility of introducing delay to increase duties on goods from China.
Earlier, he called the us company to immediately seek alternative options the Chinese market and threatened the Chinese side, the introduction of high duties on Chinese imports in the United States. The worsening trade relations between the parties in a whole lot of pressure on oil prices, as investors fear the negative consequences for the global economy.
The Euro on Monday quite actively reduced in relation to dollar and fall to around 1,1114 euros to the dollar after the publication of negative statistics on the German economy. The business climate index of the IFO research Institute in Germany in August fell to the lowest since Nov 2012 at 94.3 points, while the market had expected that this figure fell to only 95.1 per item. However, the international currency market continue to push the threat of a trump against China, although market participants now hope that the parties will be able soon to resume negotiations.
_____________________
Valery Polkhovsky,
Financial scout,
Forex Club