The rate of oil in the power of trade disputes the United States and China
The oil price showed a volatile dynamics in trading on Monday, reflecting trends on the global markets, which initially dipped, but then went to recovery, responding to controversial news from the trade front. So, the price of Brent, which noted the lows 57,80 per barrel, finished in the area of 58,25 dollars and is trying to strengthen its positions above the level of 58 in the early morning Tuesday.
Originally announced by China raising tariffs on imports from the United States and prompt a response from Washington resulted in the sale of risky assets, including oil. But then a softening of rhetoric trump coupled with the desire of Beijing to return to the negotiating table resulted in the price rebound. However, the voltage drop should be taken with a grain of salt, given that the parties still do not want to make concessions to each other, and a new aggravation of relations can happen at any time.
Continued concerns on this front will continue to restrain the rise in oil prices in the near future is unlikely to be able to confidently be beyond the level of 60 dollars, even if at the time will test it. The players ‘ attention is still focused on signals from the trading front, but the market will temporarily distracted by the fresh weekly report on stockpiles from the API and energy today and tomorrow respectively.
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