Oil prices rose from the lowest level in the four years, after a technical indicator showed that the recent fall in prices was excessive. The price of ‘Brent’ RU has risen to circulate near $ 61 a barrel, after it has fallen by about 10% over the past six sessions, and the price of “West Texas” is about $ 58. Both the two years recently entered the area of the highlight of the sale on the relative strength index for a nine -day period. The Chinese market also reopened its doors after a holiday. Commercial tension remains pressure, the price of oil fell on Monday after the “OPEC+” coalition agreed during the weekend, an extra increase in the offer from June, amid the Saudi Arabia’s indication of the possibility of extra increases as members who do not overlook production, at the specified shares. This has increased negative pressure on futures, which are still near their lowest levels in four years, at a time when trade tensions between the two largest economies in the world threaten global growth. Meanwhile, US President Donald Trump said he was ready to reduce customs duties at some point, because these drawings became so high that the two countries actually stopped doing business with each other. He added that there are no plans to talk to his Chinese counterpart this week. “Oil benefits from a slight increase, perhaps with China’s return from holidays, and hope is renewed in commercial discussions,” said Warren Patterson, head of the commodity strategy at the ING group. He added: “Nevertheless, the risks are likely to fall in prices, while continuing the uncertainty over the question and incorporating the OPEC+policy.” Signs of initial weakness have appeared in the crude oil market in the Middle East, with price indicators falling in the recent sessions. The bonus of “Oman” and “Marbban” bonus has shrunk on the regional “Dubai ru” regional power.
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