Oil decreases after the largest weekly loss in more than two years

Oil prices have fallen, after scoring its biggest weekly loss in more than two years, with the tendency of hedge funds to the dumping after the fragile ceasefire between Iran and Israel, and before a possible increase in the supplies of the “OPEC+” coalition. Brent ruol fell to about $ 67 a barrel after falling by 12% last week, while the Ru -West Texas traded about $ 65. Iran said it is still skeptical of the steadfastness of the ceasefire in which the United States mediated with Israel, although US President Donald Trump pointed out that he could eventually be reducing the sanction on the country “if it could be peace.” The “OPEC+” coalition prepares itself for the “OPEC+” meeting, and prepares them to consider another increase with 411 thousand barrels a day for August when they hold their meeting on Sunday. In the case of approval, it is the fourth consecutive monthly increase approved by the coalition, and this is equivalent to three times the sizes planned in principle. OPEC expectations for the growth of oil question without change for the third month. Read the details and current oil prices are currently trading near the levels they were before the first Israeli attack on Iran on June 13, focusing on the basics of supply and demand. Contrary to the potential increase of “OPEC+”, which can exacerbate the excess of the exhibitions expected later this year, investors will follow the development of commercial negotiations, as only ten days will be over the specified US Customs’ duties according to each country.