Oil prices decreased on February 28, because the uncertainty about global economic growth and demand for fuel due to the tariff threats of Washington and further signs of economic decline in the United States outweighed anxiety regarding the proposal. Reuters writes about this.
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Prices
May Brent oil futures decreased by 31 centers, to $ 73.26 per barrel, futures for American oil WTI also decreased by 31 centers, to $ 70.04 per barrel.
prices for Brent, which expires later on Friday, traded at $ 73.69, which is 35 more than 35 cents less or by 0.5%.
both control indicators on the way to the first month decrease in three months.
Causes
According to the IG market analyst Tony Sikamora, a long list of factors, including fears of economic slowdown in the United States, tariffs, OPEC+ plans to increase the proposal in April and hopes of peace in Ukraine, restrain the risky appetite of investors and reduce prices.
US President Donald Trump on the eve said that he proposed to him 25% of the duty for Mexico and Canadian The goods will enter into force on March 4, along with an additional 10% duty on Chinese import.
Economists say that it is difficult for market participants to assess the impact of the flow of political statements related to the energy of Trump this month.
Details
Investors are also affected by the data indicating the growth of unemployment applications in the United States last week, while another government report confirms that economic growth has slowed down in the fourth quarter.
OPEC+ discusses whether the planned increase in oil production in April or frozen it, since its members are difficult to understand the picture Global supplies due to new US sanctions against Venezuela, Iran and Russia, eight sources of OPEC+.
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- oil