Oil prices descend despite Trump's tightening of the screws on Iran's supplies

Oil prices fell when US President Donald Trump renewed his promise to lower prices, despite his efforts to tighten sanctions against Iran. Brent -ruol fell 0.4% to $ 74.29 a barrel, and the Western Texas West medium fell 0.6% to settle on less than $ 71, which expanded the three -day march, and allowed future futures closer to the highlight of the relative power index. Prices ranged significantly during the session, as it first abandoned its profits after Trump repeated its promise to increase oil production, and then rose by 1.2% after the US Treasury set sanctions on an international network to facilitate the delivery of Iranian crude oil to China. Also read: The shares of shipping companies rise after Trump’s promise to sharpen the screws on Iran, then the prices dropped again against the backdrop of the possibility that sanctions against Iranian supplies have more immediate and concrete consequences, after the recreation made the application of US sanctions in Iran to increase oil exports by about one million vessels per day. The doubt about Trump’s production policy and on the other hand, doubts that the policy that Trump has proposed on energy will stimulate fossil fuel producers in the United States to increase production and dismiss their focus on capitalist discipline and income from shareholders. ‘City Group’, including Francesco Martuchia, wrote in a note: ‘We keep strongly to the point of view that Trump can finally prove that it has a reduced impact on the oil market.’ Also read: “Chevron” plans to increase by 10% oil production in the Bermean Basin this year, adding: “Especially Trump has constantly highlighted low energy prices, as it is the central solution to inflation problems, interest rates, debt and living in the United States, and that this is an essential problem for it.” Trump has caused serious fluctuations since Trump returned to his post last month, crude oil futures were subjected to various serious fluctuations, due to his threats for customs tariffs and other commercial movements. The fluctuations on Thursday reflect the fluctuation that took place in the stock markets and bonds, where the participants evaluated mixed signals before issuing the post report Friday. Also read: Customs duties threaten to disrupt the oil market and increase fuel prices in America. Trump has regularly moved the prices of crude oil in a few dollars in its first term, through publications on social media and other statements, which are the pattern that has started reappearing over the past two weeks. RU -oil markets traders have also come out in large numbers due to price fluctuations, which exacerbate prices. There are indications that the material market has begun to weaken. The Brent -Ru bonus for immediate delivery compared to contracts next month has reduced this year to the lowest level, by less than 50 cents a barrel, compared to about one dollar at the end of last month.