The energy prices have been falling for the second day in a raw. The reason remains the same – the expectation of news about the progress of negotiations between the States and China.
At 8 am Moscow time, futures for Brent crude oil fell $ 0.1 or 0.16% compared to the previous level. The asset was trading at $ 62.34 per barrel. Yesterday, black gold lost $ 0.86, or 1.36%, ending the session at $ 62.44 per barrel.
December futures for WTI are declining too. At 8 am Moscow time, it amounted to 0.12 US dollars or 0.21%, the asset was estimated at 56.93 US dollars per barrel. Yesterday, the contract fell $ 0.67 (1.16%) and closed at around $ 57.05 per barrel.
The market is still affected by the development of the trade conflict between the United States and China. A couple of days ago, the Ministry of Commerce of the PRC reported that a very constructive telephone conversation had taken place between the Vice Premier of the State Council of the PRC and the US Treasury Secretary. A day later, a message was published stating that official Beijing did not believe in the deal, since Trump was not going to withdraw the duties already imposed. Experts agree that until the agreement is signed, the energy market will remain under pressure.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group