Oil prices at their lowest levels since September

Oil prices have dropped to their lowest levels since September, with the exacerbation of poor economic data from China, which has increased to the growing expectations of demand. Brent ruol was traded near $ 70 a barrel, while the West Texas Raw was less than $ 67, after seven weeks of declines. Consumer inflation in China has dropped more than expected, and for the first time in 13 months it was less than zero, which highlights the continuous deflationary pressure at the largest importer of crude oil in the world. The convergence of falling factors exposed to crude oil for a blow to the convergence of landfill, including an increasing global trade war, plans ‘OPEC+’ to increase production and conversations to end the three -year war in Ukraine. It spurred the speculators to reduce the clear bills on the world’s world standard as the largest since July. Meanwhile, US President Donald Trump avoids the fear that his identification measures would harm growth, saying on ‘Fox News’ on Sunday that the economy is facing a ‘transition period’ while avoiding asking for stagnation. Federal Reserve chairman Jerome Powell acknowledged the high uncertainty about expectations on Friday, but said officials did not have to rush to lower interest rates. In a separate context, on Friday, Saudi Arabia has lowered prices for buyers in Asia, the largest market, for the first time in three months. This comes after “OPEC+” was unexpectedly agreed to increase the stock that began in April, to multiple postponement caused by the weakness of the market.