Oil prices are rising with the support of indicators of declining stock

Oil prices have risen with short -term traders, amid indications of weakness in the Chinese economy. Brent ruol increased by about 1% in March to close at $ 76.92, and the Western Texas West Raw rose 0.8% to establish near $ 74 a barrel, achieving its seventh profits in the last nine sessions. Oil prices fell by more than 1% on Wednesday, after future contracts could not enter a large technical level. Supporting the continued decline in US equities and potential risks to Iranian supplies during Donald Trump’s second presidency has raw prices to record a strong beginning this year. The cold weather is expected to improve the demand for heating fuel this month, and the export of crude oil has reduced the SEA in Russia to its lowest levels since August 2023. The Chinese economy weakened in a memorandum on Thursday that the cold weather would increase the demand in the first quarter on the heating of oil, Kerosen Daily. On the upper limit, it represents more than 40% of the increase of 1.6 million barrels per day in total oil demand, which the bank expects during the period. Analysts, including Natasha Kaneva, indicated in the memo that “winter is a large part of the energy question, but the fluctuations of normal conditions to the conditions of deep freezing will have an impact on demand and demand for oil.” Consumer inflation in China has reduced more approaching zero, which is a setback for the government’s efforts to revive demand, which contributed to reducing rough profits. The increase in the US dollar recently has the basic commodities in the currency, including oil, less attractive to some buyers. Fear also continues that supplies can exceed the demand. Many banks have retained their declining expectations, and Standard Charterd reduced their expectations for ‘Brent’ by $ 5 to $ 87 a barrel and reduced its first quarter estimates by $ 7 to $ 82. “The expectations are taking off slightly,” said Victor Katona, head of oil analysis at the “Kepler” consulting company, on the Golf Expectations Forum online.