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Oil prices slightly lower at the beginning of weekly trading

2019-07-15 09:55 am | Resource: News | No Views : 25

 Oil prices slightly lower at the beginning of weekly trading

Oil prices fell as US crude traded near $ 60 a barrel as the storm closed nearly three quarters of the US Gulf of Mexico's oil production and concerns about demand after China's economy grew at its slowest pace in 27 years in the second quarter.

About 73 percent of oil production in the Gulf of Mexico ended on Sunday and some producers, including ExxonMobil and Chevron, are preparing to bring workers back to the sea, with the storm Bari vulnerable.

European Union countries urge a halt to the escalation of Iranian tensions

The European Union, signatories to the Comprehensive Comprehensive Action Plan, also known as the Iranian Nuclear Agreement, issued a statement on Sunday calling on all parties to ease current tensions and resolve the nuclear crisis diplomatically.

"We believe it is time to act responsibly and look for ways to stop the escalation of tensions and resume dialogue," France, Germany and the United Kingdom said in the joint statement. "Risks are so necessary that all parties stop and stop thinking about the possible consequences of their actions," they said.

Earlier this month, Iran suspended more of its commitments under the Comprehensive Joint Action Plan and began enriching uranium beyond the limit set by the agreement. Tehran said its decision came as a result of the US withdrawal from the JCPOA last year and the failure of signatories to the EU to circumvent US sanctions.

Iran New York is not affected by visa restrictions

Iranian Foreign Ministry spokesman Abbas Mousavi said on Monday that US restrictions on the movement of Iranian Foreign Minister Mohammad Javad Zarif during his trip to New York this week would not affect the minister's schedule. Zarif is restricted to moving between United Nations Headquarters and Iran's Permanent Mission to the United Nations at the corner of Third Avenue and Fortyth Street. He will also be allowed to go to the residence of the next Iranian ambassador, where he will be staying.

Oil contracts
  • Brent crude for September delivery fell 0.25% to $ 66.55 a barrel at 9:05 am CET.
  • US crude for August delivery fell 0.4% to $ 59.97 a barrel, after rising 1% Friday, recording the best weekly gain since mid-June.

Other analysis

Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

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