Oil continues its decline as the dollar strengthens after Trump's victory.
Oil prices are falling due to weak demand in China and the strengthening of the dollar.
According to the news agency Bloomberg, the price of Brent oil is around $72 per barrel, while the price of West Texas Intermediate oil is below $69.
Weak consumer inflation in China and declining wholesale prices are also influencing the decline in oil prices.
The decline in oil prices also indicates a weakening of the short-term supply deficit in the market and weakens its indicators.
Oil traders are analyzing the prospects for global demand in the coming years, taking into account factors such as the strengthening of the dollar and tensions between Israel and Iran.
This week, investors will receive important forecasts from OPEC and other organizations.
In its latest report, OPEC has lowered its forecasts for oil demand.
Read also
- Russians shelled the energy sector of Sumy region - power outages occurred
- Near Kharkiv, fighters captured a Russian soldier - interrogation video
- The President of the Czech Republic urged partners for direct negotiations with Russia
- Payments to the military are planned to be recalculated — what will change
- Zelensky met with the President of Italy - what they discussed
- Destruction of the Crimean Bridge - Russia has no alternative for logistics
