Trump's decision to suspend some fees supports oil prices

Oil has expanded its profits to a turnaround from its lowest level in four years, supported by a state of relief in global markets after US President Donald Trump announced a partial remark from his plans on customs duties. The mediator “West Texas” rose above $ 63 a barrel, after changing its direction on Wednesday and jumping 4.7%, and achieving its best daily profits since October, while Brent contracts closed June with 4.2% at $ 65.48 a barrel. The Trump statement supports prices and in light of the unrest in the financial markets, Trump suddenly announced a 90 -day remark about mutual customs duties that became dozens of commercial partners as he raised it to the fees to 125% after Beijing reacted with retaliation measures. Oil prices, together with other goods, shares and bonds, have dropped in the last period due to the pressure of US fees, amid warnings of global economic stagnation that can push energy demand. At the same time, the ‘OPEC+’ alliance has committed to accelerating the rate of reduction restrictions more than expected, which increased the fear of the exhibition. Raw profits came on Wednesday despite the issuance of the data showing the height of commercial shares in the United States to the highest level since July last year.