World Oil Price Today Brent was $ 2 and 2 cents
reports Mehr News Agency US duties have lowered oil prices, but Washington’s pressure on Venezuela and Iran is on the eve of the third consecutive rise in the weekly price
Price per barrel of oil Brent North Sea today fell by 2 cents to $ 5.5 % to $ 2 and 2 cents. Oil West Texas Intermediate US is also traded at 2 cents equivalent to $ 4.9 % reduction of $ 2 ۱۳۹.
US President Donald Trump intends to perform mutual effects that take the highest range of imports from April 2nd. This trade war has caused an concern for investors a possible recession.
The US Energy Intelligence Bureau announced that its crude oil reserves have fallen by 3.5 million barrels over the past week to 1.5 million barrels. While analysts were expecting a reduction of 6,000 barrels.
Oil Brent 4.3 and US oil increased by 4.9 percent over the past week. Both of these oil indicators reached the lowest in early March, but oil prices Brent have increased more than 2 % and US oil has risen more than 5 %.
Trump on Monday announced 5 % of new tolls on Venezuelan crude oil buyers. The decision was made a few days after the boycott of Iranian oil buyers.
These Trump actions lowered 6,000 barrels a day of Venezuelan oil production this year.
These new tolls have increased instability among buyers and Venezuela’s oil trade with China has stopped it as the largest buyer. Some sources say the company Religion Indian India, the world’s largest refinery operator, will stop importing oil from Venezuela.
US sanctions against Venezuela and Iran have changed the prospect of global oil supply. The United States has launched a new round of sanctions against Iranian oil since the start of Trump’s presidency.
The OPEC Plus coalition is set to begin its monthly production in April. The group, consisting of OPEC and its allies, including Russia, will continue to increase its production in May.
