Oil prices rose to a quiet session Monday, at a time when traders monitor the latest US movements in the trade war, as well as the possibilities to alleviate restrictions on Iranian oil. Brent oil was traded above the $ 65 per barrel after he recorded a 0.2% increase on Monday, while the West Texas West ruid settled nearly $ 62. Oil has fallen about $ 10 since the beginning of the month, as the trade war has revealed the fear of global economic stagnation, which could harm energy demand, especially in the United States and China, the largest consumer of crude oil. This concern has resulted in energy agencies reducing their expectations for demand, and analysts have reduced the price estimates, with the fear of possible evaluation of supplies, which coincide with the sudden “OPEC+” decision to increase production faster than expected. The US -Syranic discussions in terms of political developments have had the United States and Iran core talks last weekend, describing the two parties as ‘constructive’, and these are the first high -level discussions since 2022. The two parties will meet again in Rome next Saturday, raising the possibility of increased oil production. As far as the demand side is concerned, the organization of petroleum exporting countries “OPEC” has reduced its forecast for consumption by about 100,000 barrels per day during the next two years, following a greater reduction in the US energy information administration. Large banks have lowered oil prices, as the JP Morgan Group now expects the average price of ‘Brent’ crude oil to reach $ 66 a barrel this year.
Oil prices are rising with anticipation of fees and negotiating developments with Iran
