Os Oil prices closed almost stable this Tuesday (15), while investors would digest the latest news about As tariffs of president two United States, Donald Trumpand tried to calculate how much Trade War between the US and China It could reduce global economic growth and the demand for oil.
Os future contracts From the Brent oil fell 0.3%, closing at $ 64.67 per barrel, while the West Texas Intermediate (WTI) oil fell 0.3%, closing at $ 61.33.
And led the organization of oil exporting countries to reduce their outlook on demand on Monday.
The International Energy Agency followed on Tuesday with its projection that it will grow it at the slowest rate of the last five years, due to concerns with the economic growth resulting from Trump’s commercial tariffs.
This one made several banks, including UBS, BNP Paribas and HSBC, reduce their predictions for oil prices.
“If the trade war intensifies even more, Our negative risk scenario -That is, a deeper recession-can cause Brent to be negotiated at $ 40-60 (per barrel) in the coming months, ”said Giovanni Staunovo, an analyst at UBS.
Along with the increase in OPEC+offer, a group that includes OPEC and allies producers, such as Russia, have already led oil prices to fall about 13% so far this month.
*Report of Scott Disavino in New York and Shadia Nasralla in London; Additional Colleen How report in Beijing, Emily Chow in Singapore
