The expert described the factors that will influence prices in the near future.
Oil prices recently fell below $35 a barrel due to the deterioration of relations between China and the United States. In the short term, the price of Brent crude oil will “move near the $ 35 per barrel.”
This forecast “Browser” was voiced by analyst Andrey Shevchishin. “The world price of oil in recent times under the pressure of deteriorating relations between the US and China. Because China is one of the largest sources of demand for oil, the political risks for the state of its economy will lead to lower oil prices. However, the pressure on prices is weakening, as the largest countries in the world from the quarantine”, – says the expert.
Of the factors that can affect oil prices in the near future, also the data on stocks of raw materials in the United States. The latest statistics were not very positive, showing an increase in the rate with a rather weak demand for oil, analysts said.
“We can predict that in the short term, the price of Brent crude oil will continue to move near the $ 35 per barrel,” says Shevchishin.
World oil prices fell after a new aggravation of relations between the U.S. and China. Wednesday, may 27, the price of a barrel of Brent crude oil with delivery in July has decreased on 1,41% – to $35,66.
However on 30 may they again increased sharply in price. So, oil WTI increased by 5%, to $35, and 59 per barrel. The last time WTI cost more than $35 recorded on March 11. Brent increased in price by 4.72% to $37,73 per barrel.
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