Oil prices stabilize to a wave paid in commercial optimism

Oil prices have stabilized after the largest height of four days since October, powered by optimism about the calm of the trade war, and the increase in the tone of US President Donald Trump to Iran’s oil exports. Brent oil was traded near $ 66 a barrel, after rising by about 10% during the previous four sessions, while West Texas Middle Easy exceeded $ 63. Trump said during a visit to Saudi Arabia that the United States will put the utmost pressure on Iranian energy exports, if there is no agreement for the Iran nuclear program, to the US Department. The commercial calm added extremist statements about Iran an extra momentum for the recovery, driven by weaker US inflation data, and the continued relief in the markets due to the decline in the tension between America and China. Futures has recovered from their lowest levels in four years based on the closure, recorded at the beginning of last week, but has been more than 10% low since the beginning of the year. Trump is visiting the Middle East this week in the hope of closing transactions with countries, including Saudi Arabia. The kingdom is one of the most prominent leaders of the “OPEC+” alliance. The coalition insisted on the growing production not to punish -with any increase in production held at a meeting at the first June, raising concerns about the exhibition. Trump also announced that the United States will increase the sanctions set on Syria after the overthrow of former President Bashar Al -Assad. Syria produces about 400,000 barrels per day crude oil before the outbreak of the war in 2011, but production has since fallen, and many fields are under the control of the Kurdish forces instead of the central government. Meanwhile, the US Petroleum Institute said crude oil stocks in the United States increased by 4.29 million barrels last week. If it is confirmed in the coming official data on Wednesday, it will be the largest increase since March.