Brent drops below $44 a barrel again

Oil quotations are slightly lower on Monday morning after a slight rise last week. Traders are monitoring the development of the conflict between the United States and China, and also continue to evaluate data on new cases of coronavirus infection in the States, Interfax reports.

By 8:25 a.m. Kyiv time, September Brent futures on the London ICE Futures exchange fell by $0.04 (0.09%) to the closing level of trading on Friday and traded at $43.3 per barrel. During the previous session, Brent rose by $0.03 (0.07%) to $43.34 per barrel.

By this time, September futures for WTI were cheaper on the New York Mercantile Exchange NYMEX by $0.03 (0.07%) to $41.26 per barrel. On Friday, the contract rose by $0.22 (0.5%) to $41.29 per barrel.

Over the past week, Brent rose in price by 0.5%, WTI – by 1.3%.

On July 24, the Chinese Foreign Ministry announced the closure of the US Consulate General in Chengdu, the administrative center of Sichuan province, in response to the American side's demand to close the PRC Consulate General in Houston.

Experts note that the deterioration in relations between the US and China could complicate the recovery of the global economy after the crisis caused by the coronavirus pandemic.

Last week, the number of operating oil production units in the United States increased for the first time since mid-March, to 181.

Tags: contracts, oil, Top management, USA, energy market, Азия, добыча нефти, коронавирус, RF, foreign affairs, OPEC+, OPEC, price, agreement, volumes, oil products, oil deliveries, infrastructure, energy sector, quarantine, Brent, WTI, pandemic, Saudi Arabia, Trump, oil pipeline, COVID-19, decline in production, oil companies, oil reserves, crisis, economy, market, oil production

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