Oil continues its decline as the dollar strengthens after Trump's victory.
Oil prices are falling due to weak demand in China and the strengthening of the dollar.
According to the news agency Bloomberg, the price of Brent oil is around $72 per barrel, while the price of West Texas Intermediate oil is below $69.
Weak consumer inflation in China and declining wholesale prices are also influencing the decline in oil prices.
The decline in oil prices also indicates a weakening of the short-term supply deficit in the market and weakens its indicators.
Oil traders are analyzing the prospects for global demand in the coming years, taking into account factors such as the strengthening of the dollar and tensions between Israel and Iran.
This week, investors will receive important forecasts from OPEC and other organizations.
In its latest report, OPEC has lowered its forecasts for oil demand.
Read also
- Mossad Operation: The Times Reveals Details of Israel's Years of Preparation for Attack on Iran
- Frontline situation as of June 29. Summary of the General Staff
- Unequal situation: The Ministry of Foreign Affairs revealed the true reasons for rejecting restrictions on anti-personnel mines
- Zelensky Awards the Title of Hero of Ukraine to the Fallen F-16 Pilot Mykola Ustimenko
- Russia's summer offensive fails - The Telegraph
- The Russian summer offensive has stalled: The Telegraph on the key mistake of the occupiers
