World Oil Price; April 1; Brent was $ 2 and 2 cents
reports
Price per barrel Brent North Sea today rose to $ 2 and 2 cents to $ 2 and 2 cents. Oil Texas Texas Intemic US is also traded at $ 1 and 2 cents, equivalent to $ 1.2 % and 2 cents. Oil Brent has reached the lowest since March and US Oil has reached the lowest price since February.
Both of these oil indicators have declined in prices over the past 7 days, following Trump’s new tolls on imports from most countries. Trump has increased the concern of a global trade war that can slow economy growth and reduce fuel demand.
A White House official said Tuesday that China did not cancel the retaliation for US goods to Trump, so the US would impose 5 % of imports on imports from the country.
Beijing will not succumb to what is called Trump blackmail. Trump had threatened if China did not cancel 2 % retaliation, another 2 percent would be imposed on imports from the country.
China’s stubborn position has eliminated the chances of a rapid contract between the two major economies and increased the fear of the recession of economics around the world.
Analysts believe that if this trade war continues, the growth of oil demand in China, which is 2 to 6,000 barrels per day, will be endangered and the need for stronger financial stimuli to boost domestic consumption.
OPEC Plus’s coalition decision last week to increase production by up to 6,000 barrels a day was one of the reasons for lower oil prices.
Investment Bank Goldman Sachs now predict oil price Brent and US Oil and US Oil reached $ 1 and $ 2 per barrel by December 1 and $ 2 and $ 2 per barrel, respectively.
