Yesterday, the barrel price of Brent oil rising up to $ 65,54, completed the day at the level of 64.93 dollars. The barrel price of Brent oil was 64.55 dollars with approximately 0.6 percent decreased by 09.15 today. At the same time, the Western Texas species (WTI) found buyers at $ 62.13 barrel of crude oil.
In the decline in prices, US President Donald Trump’s protectionist trade policies will be effective in suppressing oil demand by increasing inflation in the world’s most consuming country.
Trump, on Friday evening, US Steel’s Pennsylvania facility in a statement, the United States imported to the steel imported customs duties from 25 percent to 50 percent announced.
Experts predict that tariffs may increase inflationary pressures and adversely affect growth, and that market players can rasp the demand appetite and create downward pressure on prices.
On the other hand, employment data, which is one of the important indicators of growth, is on the agenda of investors. The employment data that will start with the number of open jobs in the United States to be announced in the USA and will be announced during the week are the focus of investors.
Experts stated that the weakening employment market may increase recession concerns in the US and that these concerns can adversely affect the appearance of demand in the world’s most oil -consuming country and support the decline in prices.
Brent oil technically 66.50 dollars resistance, 61.84 dollars can be monitored as support.
