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Brent crude oil fell to $ 58.7

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Brent crude oil fell to $ 58.7
August 26
09:00 2019

At 8 am Moscow time, October futures for Brent crude oil were trading at $ 58.7 per barrel on the London Stock Exchange. This price is almost 1% lower than it was last week. The last session was not very successful for Brent. Its price dropped 60 cents to the value of $ 59.3.

On NYMEX, contracts of American WTI fell to 53.5 US dollars, also losing about 60 cents. At previous trading, the brand lost $ 1.2, closing at $ 54.2.

Last week, China announced that it would impose duties on the US import. New tariffs will be introduced gradually – from September to December. A 5% tariff on oil will become one of the features of the duties imposed. China introduces US fuel charges for the first time. This is a rather severe blow to the US economy, since last year China was a leader in oil imports from the United States. This year the Celestial Empire ranks 9th on this indicator.

President of America Donald Trump said that the current tariffs on Chinese goods worth $ 250 billion would increase 30% since October. In addition, the 10% duties that were planned to be imposed on products worth $ 300 billion will grow 15%. The odious US leader puts pressure on American companies and actually forces them to withdraw production from China.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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