The barrel price of Brent oil rising up to $ 64.62 on Friday completed the day at the level of 64.26 dollars. The barrel price of Brent oil, today at 09.27, increased by 0.21 percent compared to the closing was 64.40 dollars. At the same time, the Western Texas species (WTI) found buyers at $ 61.12 barrel of crude oil.
In the increase in oil prices, concerns about global trade wars and the weakening of the dollar were effective.
The US President Donald Trump’s signing the decree, including imports -oriented tariffs on April 2, strengthened the expectation of global trade wars, brought about contraction in oil demand.
White House spokesman Karoline Leavitt’s statement that Trump can reach an agreement with China on tariffs creates short -term optimism in the markets, but experts, the US administration’s association of customs tariffs with national security policy, draws attention to the global scale commercial uncertainties.
In addition, in order to maintain exports despite the tariffs implemented by the United States, countries can consciously value currencies, and this situation may adversely affect exports by expensive US goods.
The weakening of the dollar against other currencies stands out as a supporting element that supports oil demand. The dollar index has declined to 99.014 with the impact of Trump’s customs duty decisions and the trade tension climbing with China, seeing the lowest level of the last 3 years.
Brent oil technically 69,56 dollars, resistance, 60.17 dollars can be followed as support.
