Oil maintains its profits supported by optimism over a commercial breakthrough

Oil prices maintained their profits, with trade talks between the United States and China until a second day, referring to progress. Brent roughly settled at the $ 67 level level, after rising by about 1% on Monday, while the West Texas middle easily exceeded the $ 65 level of US Secretary of Trade Howard Lootnick said the discussions with Chinese officials in London were “fruitful”, while the Treasury Secretary Scotts described as “good”. Brent ruol has fallen by 10% this year amid the fear that ongoing global trading tensions could weaken economic growth and reduce energy energy, although progress in negotiations between the United States and China can reduce this concern and support risky assets. Oil was also under pressure with the “OpenC+” agreement to increase production faster than expected, causing the expectations of a vulnerability to provide the supply. “The market has praised some previous success in trade talks between the United States and China.” She added: “We may not know the result another day, and I expect prices to enter the waiting pattern until then.” The oil price structure indicates that there is a scarcity of supplies in the short term, although the opposite is the farthest term. The immediate difference of “Brent” decades is 80 cents a barrel in the case of “UP”, where the nearest contract is traded at a price higher than the subsequent contract. At the geopolitical level, US President Donald Trump expressed concern that Iran is seeking excessive profits in a possible nuclear deal, including obtaining the ability to enrich uranium, which he described as “unacceptable”. Trump explained that if the two parties reached an agreement, Washington could reduce the sanctions set on Iranian crude oil exports. He added that another meeting with Iranian negotiators will be held on Thursday.