The price of the barrel in the London market rose 2.4 percent last week, to $ 65.41, while in the American market, BAREL increased 2.35 percent, to 62.49 dollars.
Growth The price of the second week in a row, thanks to the agreement between the United States and China on the temporary reduction in customs.
According to the Agreement, the United States has reduced the customs duties from China from 145 to 30 percent, and China on imports from the USA with 125 per 10 percent. These measures will be in force for 90 days, and in the meantime, the trade negotiations between the United States and China will continue, Hina transferred.
Thanks to that, fears of the recession are mitigated, and traders hope that the final trade agreement between the two largest economies will be achieved soon.
“Enthusiasm arose from progress in the relations between the United States and China enabled the recovery of oil prices,” said Harry Tchilinguirian, an analyst at the company onyx Capital Group.
But higher gains prevented the news about progress in the negotiations on the Iranian nuclear program.
The US President Donald Trump said that the United States is approaching a nuclear agreement with Iran and that Tehran agrees to his terms. However, a source acquainted with negotiations said that there are still questions that need to be resolved.
Ing analysts wrote that the abolition of sanctions would enable Iran to increase oil production, which would result in an additional supply of about 400,000 barrels per day.
The higher growth of oil prices also prevents the decision of the organization of the Evalje Export (OPEC) on increasing production in June.
(Vijesti.ba)
