Oil prices are rising with the support of strong US work data

Oil prices have risen after the stronger US work data has relieved, the fear of economic slowdown that may undermine demand, which the algorithms traders have asked to reduce their selling centers. Brent -Ruola rose 1.7% in August to close 66.47 dollars a barrel, and the Western Texas West oil jumped by about 2% to close the $ 64 level, with the largest weekly profits since November. Raw moves with the shares to the growth of US posts in the expectations of economists with a minor difference, which preceded the decline in the demand for the short term. These numbers also caused diesel futures, which are sensitive to the economy, to their highest level in two weeks. Recruitment data reduces the request at the request, Rebecca Babin, the senior energy trader at CIBC Private Wealth Group, said “trading today is relatively calm, while the total factors continue to print the prevailing narrative in the market.” She added that “unemployment data is sharply reducing the concern of the decline in the request due to the uncertainty associated with customs duties.” Positive economic data has resulted in commodities trading reducing their sales orientation. The boxes, which could accelerate the price of prices, liquidated its selling centers to reach a negative 9% in the mediator “West Texas” Raw Centers on Friday, compared to a negative 64% on June 5, according to the data of the “Bridgeton Research” group. Optimism about trade conversations that support profits that receive the rise to support the positive “risk” moral with the support of encouraging indicators on trade conversations between the United States and China, the largest importer of crude oil in the world. US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to continue negotiations on customs duties and rare metal supplies. These positive signs fall under an oil market that has been limited to a narrow range over the past few weeks. Prices have been traded in a 5 dollar price range since mid -May, while the scale of fluctuations in US crude futures has reached its lowest level since early April. Disconnecting in the Markhorizon The oil market received successive strikes in the second term, as trade tensions between the two largest economies in the world threaten global demand. At the same time, the “OPEC+” group adds extra vessels to the market faster than expected, increasing the ambiguity of the already weak horizon for the second half of the year. Meanwhile, the number of oil drilling platforms in the United States has gone to the lowest level in nearly four years, at a time when shale oil cheers expect the poor worldwide demand for oil.