Oil continues to become cheaper after growth the day before

Нефть продолжает дешеветь после роста накануне

Oil prices reference marks are reduced in the course of trading on the morning of June 23 after a strong rise the day before.

The cost of the August futures for Brent crude on London’s ICE Futures exchange on Tuesday is $43,03 per barrel, or $0,05 (0,12%) below the price at the close of the previous session. At the end of trading on Monday, the contract rose $0,89 (2,11%).

The WTI crude for August in electronic trading on the new York Mercantile exchange (NYMEX) dropped in price by $0.14 (0.34 percent) to $40,59 per barrel. On Monday, the cost of these contracts increased $0.9 (2.3 percent).

Pressure on the market had an unexpected trading statement, White house adviser Peter Navarro, who said in a broadcast on Fox News that the President of the United States Donald trump decided to stop trade deal with China, as intelligence officials are increasingly confident that pandemic coronavirus originated in Wuhan lab.

Meanwhile, trump later denied information about the termination of trade deals with China. “China trade deal is fully preserved. I hope they will continue to live in accordance with the terms of the agreement!” — he wrote in Twitter.

World oil is cheaper again: how much is Brent and WTI

Investors are watching the situation with the spread of coronavirus infection COVID-19.

The cost of the August futures for Brent crude on London’s ICE Futures exchange at 7:25 on Kiev on Tuesday is $43,03 per barrel, or $0,05 (0,12%) below the price at the close of the previous session. At the end of trading on Monday, the contract rose $0,89 (2,11%).

The WTI crude for August in electronic trading on the new York Mercantile exchange (NYMEX) dropped in price by $0.14 (0.34 percent) to $40,59 per barrel. On Monday, the cost of these contracts increased $0.9 (2.3 percent).

Pressure on the market had an unexpected trading statement, White house adviser Peter Navarro, who said in a broadcast on Fox News that the President of the United States Donald trump decided to stop trade deal with China, as intelligence officials are increasingly confident that pandemic coronavirus originated in Wuhan lab.

Meanwhile, trump later denied information about the termination of trade deals with China. “China trade deal is fully preserved. I hope they will continue to live in accordance with the terms of the agreement!” — he wrote in Twitter.

Support for the oil market on the eve of the including the indication of a reduction in supply. The number of drilling rigs for oil and gas in the U.S. and Canada fell to a record low last week, according to Baker Hughes data.

telegraf.com.ua