World Oil Price Today Brent was $ 2 and 2 cents
reports Mehr News Agency Trading hours declined on Monday. The intensification of trade tensions between the US and China has increased the fear of the recession that could lower the demand for oil.
Price per barrel Brent North Sea today rose 2 dollars and 2 cents, equivalent to $ 1.5 percent to $ 2 and 2 cents. Oil Texas Texas Interminate America is also traded at $ 1 and 2 cents, equivalent to $ 2.9 % and 2 cents. The price of both of these oil indices has reached the lowest in April.
Oil fell by 5 % on Friday following the increase in China’s toll on US goods. The intensification of the trade war has made investors more likely to recession. Oil Brent ‘s 2.9 percent and US oil declined by 4.9 percent over the past week.
Analysts believe that the main cause of oil prices is the main cause of oil price reduction ‘s toll that weakens the world’s economy. In addition, the OPEC Plus coalition’s decision to increase production has also affected oil prices. Currently Market waiting for retaliation tolls from other countries .
US oil prices are expected to fall to $ 2 or even $ 2 with the fall of the stock market.
China imposed 5 % of all American goods on Friday to retaliate the tolls imposed by Donald Trump on Friday. Thus, investors’ fear of a world trade war has increased that could stagnate the world’s economy.
Oil and gas and refinery products are exempt from new US duties, but these policies can increase inflation, slow economy, and exacerbate trade conflicts that affect oil prices.
Jerome Paul Paul President of the US Reserve on Friday said Trump’s new toll was more than expected and causes high inflation and slowdown in the economy.
OPEC Plus coalition ministers have emphasized the need for member states to be committed to production goals and urged countries with surplus production to offset their plan to offset this surplus by April 15.
