Oil lies at the end of a turbulent week with the concentration turning into customs tariffs

Oil prices have stabilized while traders are not sure that the situation of core talks between the United States and Iran in exchange for reports that “OPEC+” can extend their production increases. West -texas -Inintermediate rough has risen slightly to settle at $ 65 a barrel after ranging between profits and losses. ‘Bloomberg’ said many delegates ‘OPEC’, who asked not to disclose their identity, said their countries were ready to consider another 411 thousand increase per day for August at their July 6 meeting, after a similar increase in size in each of the previous three months. Although this number is generally consistent with expectations, John Kandov, a partner at Again Capital, said “the indicators indicate that the group could exceed the increase of 411 thousand barrels per day.” He added: “After that we are expected to hear about the voluntary cuts less than the purpose of the backward countries in the group. I expect the final decision to go to the price cut.” US sanctions against Iran earlier raised 1.3% of crude oil after American energy secretary Chris Wright told Bloomberg that the sanctions set against Iran will remain valid at the moment, and US President Donald Trump said he had withdrawn the plans to set up the sanctions on Iran. This statement comes a few days after the president claims that Iran and the United States will meet core talks next week, which Iran denied. Also read: America and Iran are holding conversations next week. However, the oil ended this week with a 13% decline – which ended three weeks – after reaching a ceasefire in the Israeli -Yyran conflict, which reduced the concerns about cutting supplies from an area that pumped about a third of the global crude oil. The focus returned significantly to the basic incentives, including OPEC movements. Russia is now acceptable for a new increase in production, in a retreating of a previous situation, which arouses the fear of a surplus in the offer in the second half of the year. America and China are talking, and investors have drawn their attention to the progress of trade talks between the United States and China. The US Secretary of Trade Howard Lootnick said that the concept reached last month was completed, and China later confirmed this confirmation. Lootnick told Bloomberg that the agreement contains a clause associated with China’s offer of rare land minerals to the United States. The Chinese Ministry of Commerce said on Friday that officials from the two countries retained close communication earlier this month following trade talks in London. The commercial agreement with China, which Lootnick referred to, comes before the deadline set on July 9 for the United States to make a decision on the imposition of the Fees of the Liberation Day on its most important commercial partners. The Minister of Trade added that the White House has threatening plans to reach agreements with ten major commercial partners. “Oil prices have determined at the level before the escalation of the conflict in the Middle East. However, any extra increase in oil supplies can become a decisive test.”