Brent oil, which rose to $ 70.17 yesterday, completed the price of the barrel of oil at the level of $ 69.60.
Brent oil price of the barrel, today at 09.47 increased by 0.14 percent compared to the closing was 69.70 dollars. At the same time, the Western Texas species (WTI) found buyers at $ 67.38 barrel of crude oil.
Oil prices found some support with positive expectations for oil demand in the US, the world’s most consuming country.
The US Energy Information Administration (EIA) reported that last week’s gasoline stocks in the country decreased by about 2 million 700 thousand barrels. Pointing to the demand for strong fuel during the holiday period, this situation supports the prices upward.
On the other hand, US President Donald Trump’s statements about customs tariffs and news flow continue to be the focus of the markets. “BRICS’s anti -American policies will be collected from any country in the same line with the anti -American policies of BRICS. He said.
Trump also shared tariff letters for 7 new countries, including the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka. At the meeting, where African leaders hosted Trump, some countries in Africa reported that they applied very high tariffs. Stating that they will be reduced, Trump said that 50 percent customs duties will be applied separately from all sectoral tariffs to Brazilian products.
While these developments partially put pressure on the global economy and therefore oil demand, it continues to suppress oil prices downward.
In addition, the US Federal Bank (FED) meeting records announced yesterday, most of the FED officials would be appropriate to reduce the policy interest this year, and several officials were open to interest cuts in July.
Trump, Truth Social account in his sharing, said the policy interest rate is at least 3 points higher, calling to reduce interest rates.
Brent oil technically $ 77.12 dollars, resistance, 63.01 dollars can be followed as support.
