Traders remain focused on the actions of US President Donald Trump.
Over the weekend, Trump announced his intention to impose 25% tariffs on all steel and aluminum supplies to the US. Additionally, he promised to introduce retaliatory measures against countries that impose tariffs on American goods. Traders fear that the trade wars initiated by Trump will lead to a significant weakening of global economic growth and, consequently, oil demand, Market Watch reports.
The price of April Brent futures on the London ICE Futures exchange as of 9:20 (Baku time) is $75.26 per barrel, which is $0.6 (0.8%) higher than the previous trading session's close.
On February 7, these contracts rose by $0.37 (0.5%) to $74.66 per barrel. WTI oil futures for March on the New York Mercantile Exchange (NYMEX) electronic trading increased in price by $0.54 (0.76%) to $71.54 per barrel during this time.
At the end of the previous session, these contracts rose by $0.39 (0.6%) to $71 per barrel.
AzVision.az
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