Oil prices stabilize near the lowest level in 6 months

Oil prices stabilized near their lowest levels in six months, as the wide rates imposed by President Donald Trump to set trade wars on various fronts, causing concerns about energy demand. West -texas Intermediate Crude traded near $ 66 a barrel after losing more than 5% over the past four sessions, while Brent -Ru closed below $ 70 on Wednesday. Although Trump is planning to postpone some customs duties on car manufacturers and consider exemptions for some agricultural products, he is still working on mutual fees by April 2. Oil prices have fallen by nearly one fifth since the middle of January, as Trump’s commercial policy has been unchanged in the global markets. At the same time, the “OPEC+” Alliance referred to plans to resume its stop production in April, which increased the pressure that drops prices. On the US Golf Coast, refineries have reduced the requests to buy crude oil from Mexico, which intends to announce their response to Trump’s definitions on Sunday. In Canada, Alberta’s Prime Minister said the boycott will build pipelines to export more oil to Asia and Europe. In light of these developments, some analysts have begun to review their expectations for prices. Morgan Stanley has reduced its estimates for the Brent -Ru price to the end of the year, and it is expected to be traded within the $ 60 during the second half of the year.