US RU prices under $ 60 due to Trump's fees over China

US crude prices have fallen below $ 60 a barrel for the first time since 2021, after the administration of US President Donald Trump announced plans to raise the retaliation of trade war with China, which expressed concern over the path of global demand growth. In June, Brent -Ruol dropped 2.2% to settle at $ 62.82, and the “Western Texas” crude futures decreased for the fourth consecutive day and closed at $ 59.58 a barrel before touching the lowest level in four years after the settlement. An official from the White House said Trump intends to move forward from midnight with the setting of fees up to 104% on many Chinese goods. This represents an additional major escalation in US measures against China, which is one of the largest raw importers. Beijing previously emphasized that it was ‘ready to fight until the end’ by retaliation trading measures. Deviations affected all commodities that the markets saw this month that oil, stocks, bonds and other commodities in the light of the US president continued his hard commercial approach. These disorders have fueled the fear of the global recession that undermines energy demand. At the same time, the “OPEC+” coalition decided to increase production above expectations, affecting the expectations of the balance in the oil market. “We expect more fluctuations in the short term, either for good or for the worse. Unless there is a clear catalyst in the direction, such as a decision of OPEC or of a large central bank, the market will remain subject to a state of tension and attraction,” says Christina Chi, CEO of Databonto, a market data. Over the past days, banks have rushed to lower their prices. The ‘Societe General’ group expects the price of ‘West Texas’ crude oil to reach $ 57 by the end of the year, while the Goldman Sachs group warned about the possibility that Brent will reach crude oil in the worst scenario. A senior manager in the US oil industry has called on the Trump administration to explain how the World Trade War will benefit local producers. Energy -Information Administration delays its monthly report. These disorders also caused the US Energy Information Administration to postpone publishing its monthly report, which was to be released on Tuesday. The agency has announced that it can work together its economic models to take recent developments in the markets. In China, local buyers are likely to stop importing US oil as the trade war continues, according to the Local Industrial Industrial Consulting Company (JLC), which indicated that Chinese companies tend to increase the shipping from Russia, the Middle East, West Africa and South America. At the same time, the options markets show an increase in low prices betting. Standard sizes were traded last week some of the landless sales contracts, while the Brent -Ru contracts have registered the highest price allowance for purchase contracts since December 2021.