The price of Brent crude to the evening adds 1%

  • And
  • +A

The growth of world oil prices on Tuesday increased to 1% and they have risen to the level of 58,6 USD per barrel Brent crude in anticipation of the weekly release of data on stocks of raw materials in the U.S. from the American petroleum Institute (API) and the Ministry of energy of the country. One of the traders of Forex Club during the day was able to capitalize on the change of quotations of Brent crude oil more than 13 thousand dollars.
Market predict a decline in stocks over the past week to 2.1 million barrels. On Wednesday, the same data will publish US Department of energy – a week earlier, the reserves dropped by 2.7 million barrels.
In addition, investors continue to react to Monday’s statements of the American President Donald trump about the possibility of postponing the increase of duties on goods from China.
In addition, market participants drew attention to the message of OPEC, according to which country the agreement agreed to cut oil production OPEC+ and expect a significant reduction of commercial stocks of oil and oil products in the world in the second half of this year due to the oil deal.
The dollar is weakening on Tuesday to mark 1,1109 euros to the dollar because of the continuing uncertainty in the prospects for trade relations between the US and China. After the optimistic statements of the us President Donald trump on the eve of market participants again have doubts about the future prospects for the world economy.
____________________
Valery Polkhovsky,
Financial scout,
Forex Club