Future oil contracts closed down on Monday, 30, while the market continues to shift their focus to other factors other than the climbing of geopolitical tensions in the Middle East.
The possibility of increasing production by the, a possibility for the group’s August meeting, is one of the highlights of the market.
In addition, demand signs, especially with Chinese activity, are highlighted. At the end of the semester, the quotes eventually had a retreat compared to the end of 2024.
In the New York Mercantile Exchange (Nymex), WTI oil was closed down 0.62% ($ 0.41), at $ 65.11 the barrel. WTI fell 9.22% in the semester. Already Brent for September, negotiated at Intercontinental Exchange (ICE), retreated 0.09% (US $ 0.06), $ 66.74 the barrel. Brent fell by 10.70% in the semester.
They gave “some space for inflation expectations and allowed investors to focus on the foundations rather than extreme geopolitical risks,” said Saxo-chief of investment, Charu Chanana.
In turn,, according to the Chief of Staff of the Armed Forces of the country, Abdolrahim Mousavi. The authority said the country responded to the attack it suffered and, if the ceasefire is not fulfilled, will respond again.
Meanwhile, the manufacturing activity in China – the world’s largest oil importer – shrunk for the third month in June. The latest rates of shopping managers (PMI) officials in China suggest that thanks to a recovery in manufacturing and the construction sector, the capital Economics evaluates.
The British consultancy, however, is cautious about the country’s perspective, as the weaker advance of exports and the lowest fiscal impulse will likely slow down the activity in the second half of this year.
