Oil prices drop as a result of the fear of the trade war and pressure on Iran

Oil prices have fallen as the fear is intertwined that the trade war between the United States and China will harm global growth with US President Donald Trump’s plan to strengthen his pressure on Iran. Brent oil was traded below $ 76 a barrel, after a difficult start for the week that saw the fluctuation of markets due to customs tariffs, and then delayed customs duties on Canada and Mexico. The Western Texas were the mediator near $ 72. Meanwhile, Trump signed an assignment on Tuesday to ask Treasury Secretary Scott Besent to use sanctions and stricter sanctions that Iran imposed, with the aim of raising pressure on them. Beijing issued a quick response on Tuesday, but fainted for the drawings that Trump imposed. The trade war between the two largest economies in the world is unlikely to destabilize US exports of crude oil, as the flow to China has already decreased to less than 5% of the total US consignments. China’s markets have reopened after the new lunar holiday, with a rough futures decades in Shanghai. Also read: Poor export reduces the impact of China’s definitions on US oil in the short term in the short term. Analysts from the Goldman Sachs collection, including Samantha, took place in a note: “The effects of the term will be close to basic commodity markets.” They added, “It is likely that the US CR, affected by the fees, is easily found, while China replaces the influences of imported imports, with products of two alternative suppliers.” Trump also suggested that the United States take control of the Gaza strip and take responsibility for rebuilding the war connection area, at a press conference with Israeli Prime Minister Benjamin Netanyahu. Trump revealed that he would be open for the deployment of US forces to secure the area. Also read: a paper negotiation or a real weapon. Trump fees approach the moment of truth that oil prices face, the risk of losing all the profits since the beginning of the year after the fear of Trump’s threats to growth. Prices rose at the beginning of the year as a result of cold weather in the Northern Hemisphere, and the recent sanctions that affected the Russian oil supplies. While Trump refused to impose fees on Canada, a US refinement company said at least one was ready to switch to local oil, as the increasing customs duties came into effect. In addition, the US Petroleum Institute, funded by the industry, stated that US commercial crude shares rose 5 million barrels worldwide last week, according to a “Bloomberg” document. This is the second consecutive progress from the lowest level since March 2022, if confirmed later Wednesday.