Investor moods are becoming increasingly pessimistic. The reason for this is the final discord between the United States and China (representatives of the superpowers cannot even agree on a date for negotiations). The market, despite everything, is gradually stabilizing.
As of 8 a.m. Moscow time, Brent crude oil contracts (traded on the London Stock Exchange) fell 4 cents and cost $ 58.6 per barrel. We recall that during the past trading, the brand lost almost 60 cents. On Monday, trading closed at around 58.65 US dollars.
October futures of the American crude oil WTI have lost half a percent, falling to the level of 58.8 US dollars. On Monday, the US market operated only in electronic mode. Contracts lost $ 1.6 on Friday, dropping to $ 55 per barrel.
Representatives of a reputable Bloomberg agency report that at the moment, America and China cannot agree on the terms of future negotiations. Official Washington claims that the US proposal to establish a specific negotiation framework did not find a response from the Chinese side. In turn, China proposed to stop the introduction of new duties. And this offer wasn’t approved.
Bloomberg has released a consensus forecast for the OPEC oil production. Last month, it increased for the first time since the beginning of the year. Production in August was 0.7% higher than in July.
Difficulties in US-China talks are putting pressure on the market. News of increased production by the OPEC countries only exacerbates the situation.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group