Oil prices fall with a focus on US stocks and reduced interest

Oil prices have fallen after rising to three sessions as traders have evaluated new US stock data and the Federal Reserve lower interest rates. West -texas -Inintermediate crude oil dropped 0.7% to settle at $ 64 a barrel after the Federal Reserve reduced the interest rate by a quarter of a percentage point and expected two other cuts this year. Although low interest rates usually increase the demand for energy, investors have focused on monetary policymakers warning about the growing weakness of the labor market. Read the details: “The Federal Reserve” reduces the benefit of 25 basis points for the first time during the Trump. Merchants often expected a reduction with 25 basis points before the decision, which resulted in some withdrawing their fences in anticipation of a greater reduction than expected. The dollar rose, which made the price of the price less attractive. “There is a somewhat unexpected response to reducing the Federal Reserve of the interest rate, but this shift increases their orientation to protect the labor market from their mandate.” This shift indicates “a recognition that the risk of growth in the economy has become clearer and anxious.” Also read: The most important conclusions of the US federal decision to reduce interest 25 basis points have exacerbated the Federal Reserve Step of the previous fall in oil prices, as traders have reduced the importance of the latest US equity life, showing a decrease in crude oil stocks by 9.29 million in the midst of a significant increase in the export. However, the adjustment factor has been increased and the distilled shares have risen to the highest level since January, adding a falling tendency to the report. “Traders prefer to withdraw the domestic demand shares”, as opposed to exports. The congestion of drops also disabled the high prices following the Ukraine attack on the Saratov Refinering in its latest strike on Russian energy facilities, which contributed to the reduction of the production of the ‘OPEC+’ state to the lowest level after the pandemic, according to the Goldman Sachs group. Also read: The world needs $ 540 billion annually to secure oil and gas supply. The acceleration of “OPEC+” supplies strengthened the expectations of an imminent threat time later in the year, while customs duties imposed by US President Donald Trump, which undermine growth, threaten the stability of the US economy. Also read: “Opec” holds its expectations for the growth of the oil question for the current and the next two years, the implicit fluctuation of Brent -rough drops in the second month after falling to the lowest level on Monday, as the total prices still fell strongly within the now scope it saw since early August.