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The Price of oil (November futures on Brent) on Monday 2 September at 16.35 Moscow time have decreased relative to the previous close of 1.1% to 58.62 per barrel.
the Market of "black gold" at the beginning of the trading week under pressure from the risks of escalating U.S.-China trade war.
So, from September 1 came into effect the new 15 - percent U.S. duty on a group of Chinese goods by $ 300 billion a year. China, in turn, imposed additional duties on American goods with a volume of $ 75 billion per year. Thus the people's Bank of China (Central Bank) continued to weaken the yuan and raised the official dollar exchange rate to 7,0883 yuan, a new high since March 2008.
However, the President of the United States Donald trump confirms the trade negotiations with China in September.
In these circumstances, depreciating at the end of last week oil let one of the traders Forex Club earn per day, about 8,5 thousands of dollars on short positions in futures on the mark Brent.
the pressure on the oil market have expert estimates that Russia in August increased oil production by 1.2% mom and 0.7% yoy, producing 11,294 million barrels per day. As a result, the obligations under the agreement OPEC+ were performed by only 56%, and production was reduced to 127 thousand barrels per day to the levels of October 2018. In July, the decline was equal to 273 thousand barrels per day, and the fulfillment of the transaction amounted then to 19.7%.
in addition, Iraq in August increased its oil exports by 1% month-on-month to 3.6 million barrels per day. Iran despite us sanctions against the country, sells oil in necessary quantities, said the official representative of the government of Iran, Ali Rabia. Earlier, the Islamic Republic sought opportunity to export not less than 700 thousand barrels of oil per day with the condition of preservation, for its part, the nuclear deal.
the Euro against the dollar and is already hovering below the level of 1.1. The pressure on the European currency comes from trading risks. In addition, the impact of weak data on business activity in Germany. The index of purchasing managers (PMI) in the manufacturing sector in Europe's largest economy in August amounted to 43.5 per item when forecasts at the level of 43.6 per item.
To 16.39 GMT, the Euro declined with the start of trading on the last fixing of 0.3% of 1.0960 to the greenback.
Market, USA, dollar, oil, ruble, Forex club
Not found economic events 2019-09-02 for 2019-09-02
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