The price of “black gold” reference marks are reduced. Futures for North sea Brent oil fell by almost 6%, according to the auction on the London stock exchange.
As of 20:39 GMT, a barrel of Brent was trading at $61,05.
On price fluctuations is influenced by the decision of the us leader Donald trump to impose additional duties on trade with China. Also the dynamics of pricing influences the decision of the fed on the rate, says RBC.
July 31, at the two-day meeting of the Federal reserve system (FRS) the USA for the first time since 2008, it lowered the base rate by 0.25 percentage points to a range of 2-2. 25% per annum. The experts noted that “while the markets digest the message the fed, risk assets will remain under pressure, and hence in the oil market in the near future should not expect the resumption of growth in prices, especially given the dollar rally, which was inspired by a more conservative rhetoric of the Central Bank”. In the course of trading at 8 am GMT August 1, October futures for North sea petroleum mix Brent fell $0.69 – $64,36 per barrel, September futures for West Texas WTI — at $0.72 – $57,86 per barrel.
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