Oil prices are rising amid optimism with a commercial breakthrough between Beijing and Washington

Oil prices have risen with the overcoming indicators of the possibility of a breakthrough in the trade war between the United States and China, for fear of the production of the “OPEC+” coalition. Brent -ruol rose 0.7% in August to raise 65.34 dollars a barrel, and the Western Texas West medium rose 0.8% to settle at $ 63 a barrel. These increases come after the Chinese official news agency reported that presidents Donald Trump and Shi Jinping are a phone call. This communication has strengthened the optimism that the two leaders can reach a solution to the commercial dispute that threatens economic growth and demand for fuel. “Communication between SHI and Tremb supports the risky and rough oils because it increases the possibility of making progress on customs duties,” says Rebecca Babin, the main energy trader at CIBC Private Wild Group. She added: “The state of uncertainty associated with the fees was an important burden on the RU markets, as it caused the unlimited tension to landscape reviews of the demand expectations.” However, the ongoing hostility between the two largest economies in the world is raising concerns about the American Skalie sector. China refused to buy US crude oil for the second consecutive month, which is the longest break since the “Corona” pandemic, which is negative for US producers who are partly dependent on the external demand. Canada burns and the decline in the US share promotes fear. Traders are prepared for the possibility of a short -term crude supply shortage. Canada’s forest fires have caused about 350,000 barrels per day oil production in the country, which can limit rough flow to the coastal storage center, Oklahoma, and to perform stations on the US coast of the Gulf of Mexico. In the United States, energy information management data showed that crude shares fell by 4.3 million barrels last week, which is the biggest decline since November. However, the “OPEC+” coalition, led by Saudi Arabia, discussed at least 411 thousand barrels a day of production in August, and perhaps in September, according to people familiar with the matter, the profits limited. However, the big demand for fuel during the summer can help the market take up these additional quantities. Raw prices fell by 12% this year for the fear that the US trade war will combat economic growth and demand for energy. Earlier this week, President Trump called on talks on customs duties with Xi Jinping, which at this stage was reluctant to move forward in high -level negotiations. Meanwhile, “Saudi Aramco” has reduced its most important raw price for buyers in Asia to download next month, but with less than the reduction indicated by the results of the “Bloomberg” poll.