Oil prices continued to fall on Friday, and as the fears grew, it extended a sharp decline that began the day before, as President Trump’s tariffs could reduce global economic growth and oil demand.
International comparison Brent Ham has been traded at the lowest level for more than three years, less than $ 65 per barrel, almost 8 percent decrease.
After Mr. Trump released tariffs for the US trade partners, prices began to shift after higher tasks for others, including a 10 percent base load in countries around the world and 34 percent of goods from China.
On Friday, China announced 34 percent retaliation tariffs against the United States, which is more concerned about the demand of demand by the demand for demand of oil and other goods. As the world’s largest oil importer, China’s actions are closely monitored by oil traders.
Mr. Peter Navarro, a White House, who advised Mr. Trump on trade, speaks for $ 50 per barrel, saying that the further fall of oil will help to control inflation under the economic benefits.
According to the Dallas Federal Reserve Bank, about $ 62 in the United States, oil prices are approaching the level that companies will not be profitable for new wells.
On Thursday, a surprise decision by a group of country -led by Saudi Arabia, the OPEC Plus cartel to accelerate the planned production, further reduced oil prices. Essentially, it is worried about the decrease mixture of tariffs that weaken tariffs that weaken tariffs that weaken the demand by coming together with the increasing pressure of oil -producing countries such as Sunday, Iraq and Kazakhstan to add materials to materials.
As a note to customers, the analysts in Morgan Stanley said that the increase for oil in a stagnation, which is an upcoming probability, fell to zero at least ”.
