Oil prices have fallen with the evaluation of investors from US President Donald Trump’s postponement to impose high customs duties on China, in exchange for the possible results of his scheduled meeting with Russian President Vladimir Putin. Brent ruol fell by 51 cents in October to settle at $ 66.12 a barrel, as the West Texas West Texas dropped to about $ 63 a barrel in quiet summer trade, which approaches the lowest level in two months recorded last week. Trump expanded an additional 90 -day ceasefire with China, which would end Tuesday. Meanwhile, US inflation data has reinforced the speculation that the Federal Reserve will soon be able to lower interest rates. Thought for the results of the Summit between Trump and Putin In the absence of any important influence factors, traders waited for the upcoming summit between Trump and Putin later this week in search of the possibility of relieving the sanctions on the oil state, although the US president on Monday reduced an agreement to end the war in Okraine. The total trading volume in the global ‘Brent’ crude oil is much lower than the average daily, suggesting that the traders are carefully waiting for more signals over the oil market. Prices fell by more than 8% this month after the decline in commercial and geopolitical tensions, while many analysts expect a surplus in the offer later this year. Meanwhile, the US government is now expecting a decline in local oil production next year, in a reflection of the direction of continuous production growth for years. The US Energy Information Administration also estimated that the excess of the offer will increase to 1.7 million barrels per day by 2026. If we look at the future, the international energy agency will issue its report on Wednesday.
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