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Business / Finance

Review: oil at 3-month low because of the "tarrifomania" trump

Forex Club 31.05.2019 at 13:29

The Price of oil (August futures on Brent) on Friday 31 may to 15.58 MSCS were decreased relative to the previous close of 2.3% to 63,80 per barrel.

the Market of "black gold" is losing ground and has updated a minimum since February of this year – in the area of 63.1 per dollar in the absence of factors for future games on the rise. The first impetus to the decline in recent days gave an assessment of the US Department of energy, which recorded a decline of oil reserves in the country last week, only 282 thousand barrels, while experts expected a decrease of the indicator by 1 million barrels at the beginning of the season of mass summer road trips Americans. Gasoline stocks even increased by 2.2 million barrels to 230,9 million barrels in the forecast of a decline of 528 thousand barrels. Finally, oil production in America over the week rose by 100 thousand barrels per day to a record high of 12.3 million barrels.

the Extra pressure comes from the risk of development of trade of the US war on many fronts that threatens to slow global growth and therefore demand for oil. So, no sooner had the markets to digest the mutual American-Chinese threat, like Donald trump announced the introduction from June 10 fee at the rate of 5% on all products from Mexico, and promised that they will rise, if the problem of illegal migrants will continue.

the American administration threatens soon will present details of its pricing decisions. The Deputy of Mexico's foreign Ministry, Jesus Led already promised to give the "energetic" response to the increase in American tariffs.

Trade wars result in a downward trend in oil prices in recent days, and it allowed trader Forex Club earn in a day of almost 28 thousand dollars on short positions in futures on the mark Brent.

the Euro against the dollar is trying to adjusted upwards, rebounding from the level of 1.11. In the end, 15.55 GMT the Euro exchange rate increased from the start of trading on the last fixing in the range of 0.1% to 1,1138 dollar.

Market, USA, dollar, oil, ruble, Forex club

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