Oil prices compensate for their losses by supporting a wave of risk reluctance in the markets
Oil prices increased gradually after witnessing a sharp decline yesterday, Monday, affected by a wave of risk reluctance in the markets against the background of the escalation of President Donald Trump’s criticism of the Federal Reserve Chairman Jerome Powell.
“Brent” rose to circulate near $ 67 a barrel, after 2.5% fell the previous session in the largest loss in more than a week, while “Texas” crude, trading below the level of $ 64 a barrel.
Trump had warned of the possibility of slowing down the American economy unless the federal took a step to reduce interest, in his latest attack on Powell, these developments come at a time when it is raised by the president that the president is considering dismissing the Federal President, which prompted investors to sell shares, bonds and dollars on Monday.
Oil prices were subjected to pressure within this chaos, to continue a monthly decline that was also affected by the escalation of trade tensions between America and the most prominent commercial partners, and strengthened the return of oil production stopped by the “OPEC+” alliance countries this month fears of the exhibits, which increased pressure on oil prices.
In this context, parts of the Brent crude futures curve slide into what is known as “Contingo”, a pattern indicating a declining trend of prices, and highlights an abundance of supplies.
