Brent oil prices fell to $ 69 and 48 cents
reports Mehr News Agency Solar has fallen on oil prices and is on the verge of the worst weekly performance over the past few months. Donald Trump’s new toll has raised concerns about a trade war that could lower demand for oil.
Price per barrel of oil Brent North Sea today fell by 2 cents to $ 5.5 % to $ 2 and 2 cents. Oil Texas Texas Intemic US is also traded at 2 cents, equivalent to 2 %, $ 2 and 2 cents.
Oil Brent and US Oil are on the verge of the biggest weekly price decline from the week ending October 9 and the week ending January 1.
The OPEC Plus Coalition’s decision to expand production was one of the reasons for lower oil prices. The coalition is now planning to return 6,000 barrels a day in May instead of the 5,000 barrels previously designated.
Analysts believe the decision will cause surplus supply in the oil market this year. Higher OPEC Plus supply means more average sour crude oil and thus higher price differences Brent with Dubai Oil Index.
Both of these oil indicators fell on Wednesday after the Trump news conference. On this day, called “Freedom Day”, Trump enforced 5 % of all imports to the United States and increased the toll on several countries, one of his largest business partners.
Imports of oil and gas and refinery products have been exempt from Trump’s tolls, but this policy has increased inflation, slows down the growth of the economy, and exacerbates commercial tensions that affect oil prices.
