Oil prices are still rising with the weakness of the dollar and the increase in tension
Oil prices rose for the second day, with the fall in the dollar, which strengthened the attraction of US currency commodities, at a time when geopolitical tensions limited the chances of raising the stock of Russia and Iran. Brent -Ruolie traded nearly $ 65 a barrel after jumping 2.9% on Monday, while the US Western Texas -Tussentage settled rough on about $ 63. Russia and Ukraine, a strict American position against Iran at geopolitical level, ended a second round of talks in Istanbul, without the two sides being closer to the end of the war. On the other hand, US President Donald Trump said that the United States would not allow uranium enrichment within any possible agreement with Iran, while he demanded Tehran to guarantees that included the upliftment of sanctions within any understanding. Brent ruol climbed 4.7% on Monday, after the “OPEC+” Alliance decided to increase supplies in accordance with expectations, which preceded the fear of greater production, and forced investors to abandon their negative bets that preceded the announcement during the weekend. Despite this recovery, oil is still 13% low since the beginning of the year, after OPEC+defends its previous strategy to defend high prices by reducing production, as well as the fear that commercial wars will negatively affect global demand. “The worst scenario has not been achieved,” says Saksu Markets, the largest investment strategy for Saksu markets. She added: “The contradictory signals of OPEC+, in addition to the escalating geopolitical tension and the US leadership season in the summer, lit a cover for short centers,” noted that the dollar’s weakness contributed to the price being raised. Parallel has forced forest fires in the Canadian province of Alberta energy companies to stop the production of about 350,000 barrels per day, or about 7% of the country’s total production, with a large fire approaching the eastern border of the province, and the threat of oil sand operations.