Oil prices dropped for the fourth consecutive day, after the news that Russia is considering making concessions to US President Donald Trump, which could include a temporary stop for air strikes in Ukraine. The price of ‘Brent’ Ru, October settlement, fell 1.5% to reach $ 67.70 a barrel, and the Rubus “Western Texas” fell by more than 1% to circulate near $ 65, which continued its losses after three consecutive retreat sessions. “Bloomberg” reported that the Kremlin was studying options, including stopping air strikes, to make Trump a concession to Trump to avoid the danger of secondary fines. The prices have recently increased with investors ready for the possibility of Russian oil flow falling. Also read: Trump’s “secondary” fines: a threat to Russia or pressure on the Allies? This development comes a few days before the eighth of August, which is the deadline for Russia to reach a ceasefire with Ukraine. The US envoy Steve Witakov Moscow is expected to visit this week. Trump previously said he would significantly increase the customs duties on India and accused him of contributing to extending the Russian war in Ukraine by buying Russian oil. New -Delhi considered this step unjustified. The geopolitical blur increases the pressure on the markets. Oil prices have seen significant fluctuations lately, as it has risen to a few dollars to circulate nearly $ 70, before returning and retiring, in light of the customers’ efforts to estimate whether Trump will implement his threats to set up sanctions on Russian oil buyers. Price stability recently helped the absence of increases in shares near live price points and their limitation to areas such as China. BP CEO Murray Oshinclos said in an interview with Bloomberg TV: “It is very difficult to predict what will happen in relation to sanctions against Russia, sanctions against Iran and China’s shares, together with the basics of the oil market,” said Murray Oshinclos, CEO of BP. He added: “These are the factors that will determine the direction of oil prices in the next phase.” Daniel Ghali, the strategy of commodities in “TD Ciscorites”, pointed out that the speculative funds that follow trends may be an additional reason for pressure on prices, as it sold up to 66% of the maximum possible volume for them with the fall in prices. Ghali said: “In almost all price scenarios, these funds are expected to sell Western Texas and Brent Ru contracts they hold this week,” Ghali said. India and China are one of the most prominent Russian oil importers. India has emerged as the largest buyer of Russia’s marine export of crude oil since the war against Ukraine in 2022, because it utilized the discount on prices after Western countries prevented themselves from buying Russian ru, increasing their imports from levels near zero to about a third of their total oil. China is also a senior Russian oil importer. In a separate context, the “OPEC+” coalition announced an increase in production a few days ago, ending the previous voluntary cuts. The coalition will have to make a decision in the coming months on the return of more vessels to the market, despite the expectation that a surplus of supplies could take place by the end of the year. Also read: “Aramco” maintains the rate of quarterly profits until the end of the year and has warned “Diamond Back Energy”, the largest independent exploration company in the US Bermean -Kom, with the possibility of large amounts of oil to flow to the markets in the coming months, and has announced the reduction of capital expenditure. Despite these challenges, BP and Saudi Aramco said on Tuesday that oil demand is still firm. Aramco CEO Amin Al -Nasser explained that the US fees did not significantly affect demand, note that the consumption of gasoline and aircraft fuel in the United States and China still supports demand levels.
Oil prices are falling in the midst of the possibility of reaching an air force in Ukraine
