Oil prices drop as Trump avoids laying sanctions on Russia's oil

Oil prices have dropped with the escalation of commercial tensions raised by US President Donald Trump, at a time when it did not include his new plan to print Russia for the ceasefire in Ukraine, any direct measures targeting Moscow’s energy export. The price of ‘Brent’ ru for the September settlement fell 1.6% to $ 69.21 a barrel, and the West Texas middle groceries fell 2.1% to sit below $ 67 a barrel. The decline came after Trump threatened to impose 100% ‘secondary’ definitions on the countries dealing with Russia if no ceasefire was reached within 50 days. However, there were no direct sanctions that affected the Russian oil shatters, which after Trump’s promise expected last week to issue an ‘important statement’ regarding Russia. Joe de Laura, a global strategic energy expert from Rabobank, said that setting up secondary definitions is difficult to implement, and that investors are not sure of Washington’s commitment to it. He added that oil prices rose 1.8% before revealing the new plan against Russia, saying: “The only thing that could support this increase was a direct escalation of Washington against the Russian oil or gas industry.” The expectation of demand for a decrease in another escalation threatened Trump during the weekend to impose 30% definitions on the goods imported from the European Union and Mexico, which increased the pressure on the expectations of energy demand. Last week, Trump’s definition messages included some of the highest tax rates imposed on the United States trade partners, which has recovered the concerns about the demand for energy, and increased the expectations of a surplus in the supply later this year, asking the hedge funds to move to the fastest pace in the fastest pace. But in the short term, demand seems to be steadfast, as China ended the first half of the year with a standard trade surplus, and factories continued to adapt to the fluctuations of customs tariffs. According to “Forta” data, the commercial data has also shown an increase in rough imports so far this year, as the country’s purchases of Iranian vessels jumped in June. Despite the geopolitical tensions in the Middle East that caused the fear of supplies to flare up, oil is still by more than 6%, as US inflationary life has provoked the fear of supplies, amid a warning balance between these threats and the US trade war. At the same time, “OPEC+” is preparing to reduce the restrictions on supplies, which increased the fear of the possibility of a bid in the offer during the second half of the year. Traders are currently looking forward to the expected US Consumer Price Index data on Tuesday looking for indicators on the path of monetary policy and its possible tightening.