Oil prices are rising with the market focus on Trump and China

Oil prices have risen in poor intercourse before holidays, as President Donald Trump is concerned about international politics, and reports indicate that China is planning to sell bonds to stimulate the economy. The West Texas Raws advanced by more than 1.2% to settle at $ 70 a barrel, and Brent -Ru rose by 1.3% to $ 73.58 a barrel. The prices of basic minerals such as nickel have risen widely, after Reuters said China could sell private value effects of 3 trillion yuan ($ 411 billion) next year, in an effort to support the slow economy. Futures for crude oil exceeded their moving average for 50 days, which led to a short wave of technical purchase. Trump’s evaluation also evaluates the market, Trump’s threats to seize the Panama channel, as well as the most stringent sanctions against Iran, and customs definitions about China that could affect the global oil balances. However, the dollar remained near its highest level in two years, eliminating the profits of basic commodities. “It seems that the holiday season will not see a major interruption of Donald Trump’s statements, as the markets are again wondering about the amount that will already be implemented,” says Yip John Rong, the market strategy in IG Asia BTE. The total trading volumes of the ‘Western Texas’ -Ru -Rew have dropped below the daily averages, and are likely to remain weak with the closure of markets due to the end of the year holidays. Raw has traded in a narrow series in the light of geopolitical uncertainty since mid -October, the poor demand in China is the largest importer of crude oil, and the expectations of abundant supplies from the Americas. OPEC+is also scheduled to reduce production cuts in 2025.