Oil prices fall by more than 2% due to the fear of the effects of the trade war

Oil prices have fallen with US President Donald Trump’s escalation of his attacks on federal reserve chairman Jerome Powell due to monetary policy, at a time when the deteriorating trade war between America and China threatens to undermine demand for global energy. The price of ‘Brent’ Ru, June delivery, fell 2.5% to close at $ 66.26, while the West Texas are the same to settle the same to settle nearly $ 63, in the biggest decline since April 10. The fear returned with the request returned to the top of the scene, after China warned the countries against the conclusion of Japan, which could harm the interests of the atjing, while the primary minister, who had the prime minister Ishiba, announced that his country would not be releases of all the claims of America. Investors on Monday adopted a cautious mood in the broader financial markets, which negatively affected many commodities. The dollar has fallen to its lowest level since December 2023, while futures for US indicators fell after Trump threatened to discharge Powell from his post. The Easter holidays in a number of countries and the approaching date of the May contracts for the “Western Texas” drult contributed to the decline in trade volumes during the Monday session. Ed Bell, head of the research department at Emirates NBD, said: “Oil seems to be taking a falling step amid a wave of general reluctance to venture,” and adds that “the prevailing mood over oil is still negative,” noted that the claims and slowdowns in global economic growth have decreased. Iranian core conversations could affect supplies in a separate development, Iranian Foreign Minister said that his country had reached a ‘better understanding’ with the United States on a set of principles during Saturday talks on Tehran’s core program. The talks lasted more than three hours, and it will resume on Wednesday in the sultanate of Oman, in conversations that could have an impact on Iranian crude supplies. Oil prices were a sharp decline this month, during which its lowest levels were touched in four years, amid investor fear that mutual escalation in customs duties between America and its commercial partners would lead to a decline in demand for RU. The pressure increased with the decision of the “OPEC+” coalition to reproduce faster than expected, which brought back to the forefront of possible evacuation in the offer.