The Barrel Prize for Brentöl, which rose up to $ 75.58 on Friday, completed the day at $ 74.40. The Barrel Prize for Brentöl, today at 09.40, rose by $ 74.72 compared to closing. At the same time, the West Texas Art (WTI) found buyers for 70.84 barrel crude oil.
Despite the decline in global oil markets, oil prices are supported at short notice by the positive signs on the demand side.
The US Central Bank (FED) is expected to switch to a total of two interest rates this year. Experts estimate that interest cuts can increase oil prices with weakened dollars and increasing economic activity. While depreciation of the dollar oil for buyers who use other currencies makes it cheaper, interest rate reductions can increase demand in sectors such as industrial production and transport to support economic growth.
The expectations that the possible peace agreement between Russia and Ukraine reduces the sanctions that interrupt the flow of supply and that the global tariff wars will impair the energy requirements by slowing down economic growth.
US President Donald Trump announced that they started the negotiation process with Russia to end the war in Ukraine. Trump said yesterday that Russian President Vladimir Putin and Ukraine could come together to end the war in Ukraine. The United States and Russia are expected to establish their first contact in Saudi Arabia in the coming days.
At the same time, Kremlin spokesman Dmitriy Peskov considered the telephone conversation between Putin and Trump as a “strong signal for the dialogue”. “No more war, we will talk about peace,” said Peskov, Trump's dialogue -oriented approach is valuable, he said.
On the other hand, Trump instructed trade and business officers about “mutual tariffs” for countries that apply tariffs on US goods last week, and increased the risk of a global trade war. It is stated that these steps will make it difficult to combat inflation in the USA, and the country's trading partners can have problems in production according to additional customs tasks.
In addition, the possibility of bringing additional customs tasks into the European Union is closely monitored. At the Munich Security Conference, the President of the EU Commission Ursula von der Leyen said that the United States will retaliate at customs tariffs.
Technically speaking, Brente oil $ 75.83, resistance, $ 73.58 can be followed as support.
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