He Crude oil world reference Brent trading above $80, supported by China’s promise to revive economic growth and hopes that Federal Reserves from United States of America will stop uploading soon interest rate.
future of Brent rose 38 cents to $80.01 a barrel, meanwhile West Texas Intermediate in the United States (WTI) was up 20 cents to $75.95 a barrel.
China’s top economic planner vowed yesterday to implement policies to “restore and expand” consumption in the world’s second-largest economy, which could boost oil demand.
In the UNITED STATES OF AMERICA, That retail sales they rose less than expected in June, raising expectations that the Fed will stop raising interest rates after the 25 basis point increase scheduled for its July 25-26 meeting.
Higher interest rates increase borrowing costs and can slow economic growth and reduce oil demand.
Another positive sign, Klaas Knot, member of CEuropean Central Bank Governing Councilit was suggested yesterday that a rate hike beyond next week’s meeting was “not at all a certainty.”
Meanwhile, the latest data from inflation in the Canada And great Britainwhich showed signs of cooling off, also lifted spirits.
“Traders have started to get a lot more optimistic inflation softening (…) any increase in the inflation data also means an increase in demand for crude oil,” he said Naeem Aslamfrom Zaye Capital Markets.
oil in real time
BRENT
US WTI
MRA
“Entrepreneur. Internet fanatic. Certified zombie scholar. Friendly troublemaker. Bacon expert.”
