Date: 7 months ago   Category: Financial

Oil has sharply risen in price because of duties of the USA for China


For day of price of oil have won back week falling. Brent approaches 73 dollars for barrel. On Friday, August 10, prices of oil have strengthened growth, at the same time Brent almost liquidated decrease since the beginning of week, Interfax Ukraine writes. October futures for Brent crude oil at the London's ICE Futures Exchange have risen in price by 18:17 for $0,66 (0,93%) - up to $72,74 for barrel. The cost of the future for WTI for September at the trading of the New York Mercantile Exchange (NYMEX) was raised for $0,80 (1,2%) - up to $67,61 for barrel. Since the beginning of week of Brent WTI - for 1,1% has fallen in price by 0,7%. News about introduction of additional duties on import of the Chinese goods to the USA what the authorities of China have promised to answer with similar measures became the major factor which has put pressure upon the oil market on the leaving week. The USA and China - two largest economies of the world and leaders in fuel consumption. If problems in foreign trade lead to delay of growth of their GDP, global demand for oil will also decrease. At the same time China in June became the largest importer of the American oil, having bought record 15 million barrels in the USA. Meanwhile the International Energy Agency (IEA) has increased the forecast of growth of global demand for oil for 2019 by 110 thousand barrels a day, to 1,5 sugar-free million. Also the agency has reported that supply of oil in the world last month has increased by 300 sugar-free thousand. Earlier it became known that the USA will introduce additional duties on production from China. Customs duty of 25% will extend to 279 more names of the Chinese goods with a total cost about 16 billion dollars. China intends to answer with "mirror" duties. Also today the American president Donald Trump has disposed to lift twice duties on aluminum and steel from Turkey. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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