Oil prices are on their way to a weekly loss amid the chaos of fees

Oil prices tend to record a weekly decline in light of the investors’ evaluation of conflicting messages about trade between the United States and China, which added more mystery to the global markets imposed by Customs Donald Trump. Brent Rose approached $ 67 a barrel on Friday, but futures are on their way to a loss of about 2% this week. The Western Texas Raw hurled near $ 63 on Thursday. On Thursday, the US president said his administration with China had talked talks, although Beijing had previously denied any negotiations on the achievement of an agreement. Fear fears pressure prices to fall oil this month for the fear that the wide customers imposed on Trump, in addition to the retaliation of commercial partners, including China, the economic activity and the demand for energy. In an effort to reassure US oil companies, Energy Secretary Chris Wright said the commercial unrest will be short -lived, and that the administration is fully supported to increase crude oil production. The “OPEC+” coalition has decided to increase the stationary production levels, which contributed to increasing low pressure on prices, increasing the fear of a surplus in supplies. The coalition is scheduled to meet on May 5 to discuss production plans for June, and Reuters reported this week that some members are seeking a significant increase in production amid discussions on compliance with productive shares. However, some indicators show that the oil market can be strength in the short term. The immediate time differences of Brent and West Texas, the mediator this month within a budget structure, expanded, citing the scarcity of supplies.