Oil prices stabilize near the lowest level in 3 weeks

Oil prices stabilized near their lowest levels in three weeks – after falling by more than 2% on Tuesday – in light of the indications that the trade war negatively affects economic growth, and with signs of an industrial group to an increase in US equities. The interim ‘West Texas’ crude oil trades near $ 60 a barrel after falling in the first two sessions of the week, while Brent ruol closed below $ 65. The data is expected to be released later Wednesday, the slowdown in economic growth in the United States confirms that the numbers have dropped to the lowest level in about five years. According to estimates of the US Petroleum Institute, CRUS commercial supplies in the United States have increased by about 4 million barrels, which also indicated a slight increase in shares in the main storage center in Coastal Hump, Oklahoma. RAW is on his way to a sharp monthly loss in the light of the wide customs duties imposed by US President Donald Trump, including China, the largest importer, which led to a decline in energy demand expectations. Meanwhile, the OPEC+Alliance has begun to reduce production restrictions, while JP Morgan warned that the coalition could decide to accelerate the pace of planned supplies at the next week meeting.