Oil prices are rising amid indicators over the fall in US stocks

Oil prices have risen slightly, after the biggest decline has been registered in two days since 2022, while traders have reserved the ceasefire between Iran and Israel, and an industrial report indicating a new drop in US crude. Brent -ruol rose by about 1% to approach $ 68 a barrel, after falling 13% over the past two days, while the Ru -West Texas exceeded the $ 65 level. After the short war between the two parties, Israel and Iran equaled the venture stations agreement in which US President Donald Trump mediated, and attracted the risks of the benefits of the region. In the same context, Tuesday, Trump gave the green light to China, the largest Iranian oil customer, to continue to buy Iran’s rough, in a move aimed at strengthening the ceasefire. This step seems to be undermining US sanctions against Tehran, although a senior White House official indicated that the restrictions on Iran will remain. A sharp fluctuation in the global market The global market showed serious fluctuations this week, which were placed by rapid mood transformations. The prices initially jumped after the United States bombed the Iranian nuclear sites over the weekend, which expressed concern about the crude offer, but it fell strongly after the White House announced the ceasefire between Tehran and Israel. The apparent change in America’s policy on the export of Iranian oil has also contributed to increasing losses. “It is natural that we see a slightly bullish correction in crude prices after the sharp fall in two days,” said Vandana Harry, the Fandan Insights Foundation in Singapore. She added: “Although the market will monitor the fragile ceasefire for some time, the focus will again return in the general economic image, the fate of US commercial negotiations and OPEC+movements.” The OPEC+coalition is scheduled to hold a video conference on July 6 to discuss the possibility of an extra offer increase during August. On the other hand, the deadline that Trump has set to conclude trade agreements with the most prominent trade partners of the United States on July 9. Fear known as ‘Liberation Day Fees’ will be imposed on that date that does not have a bilateral agreement with Washington. In addition, US crude shares dropped by about 4.3 million barrels last week, according to an estimate issued by the ‘American Petroleum Institute’, an industrial group. The official data, which is expected to reduce more than 11 million barrels in the previous week, later on Wednesday.