Oil prices continue to decline, heading for their biggest monthly drop in more than three years. The reasons are the trade war and fears about increasing supply.
Brent crude fell to $65. 42 a barrel, WTI to $61.65. Economists fear a recession due to the trade war, Barclays lowered its oil price forecast.
Oil prices rose due to US-China trade talks and a possible increase in OPEC+ supply. Brent rose to $67.08, WTI to $63.26 per barrel.
Global oil prices rose by almost 1% due to sanctions against Iran and a reduction in US reserves. Brent price exceeded $68 per barrel.
Brent crude futures rose 0. 5%, WTI - 0.7%. Investors are closing short positions, fearing a recession due to tariffs and US monetary policy.
