Oil prices still fall after China has taken revenge on Trump's fees

Oil prices are still declining after China has imposed Customs’ duties on some commodities performed by the United States, which pave the way for a new trade war between the two largest economies in the world, threatening global economic growth. West -texas -Inintermediate rough dropped to about $ 72, after dropping 1.9% as soon as Chinese procedures were announced, while Brent Crude, the global index, approached $ 75. The Chinese Ministry of Finance has announced that Beijing will impose fees on a set of liquidation oil and the natural gas, in response to “the unilateral assumption of customs duties by the United States.” Trump is concerned about the oil markets, Trump has decided to postpone the fees prescribed to Canada and Mexico, after the two countries agreed to take more strict measures to combat immigration and drug trafficking. “The fluctuations in the oil market reflect the lack of political security that the new Trump administration brings,” says Chaanna, the Saxo markets in Singapore. Considering that uncertainty “overwhelms the basics of ru, as the market is largely driven by feelings, and customs tariffs play an important role in shaping the tendency of prices.” The fear of oil demand has a difficult start for this year, as it increased at the beginning of the year due to the cold winter and recent sanctions against Russia’s supplies, before these profits decreased after Trump held office, and threatened him with comprehensive definitions that could hinder world growth. The question is relevant, as the manufacturing activity in China, the largest importer of crude oil, remains unexpected for the second month in January. Meanwhile, the “OPEC+” Alliance on Monday made any changes to the current oil production plans at the judging meeting, even with the US president, the group asked the group to help lower oil prices by expanding production. ‘OPEC+’ is scheduled to maintain production restrictions this term, and then the production gradually increases monthly payments from April.