Jakarta, cartitleloans Indonesia
–
Price
crude oil
The world rose in today’s trading, Tuesday (12/8) after the United States (US) and China agreed to extend
Ceken the trade war
for the next 90 days.
This ceasefire relieves concerns that the escalation of ‘fights’ of these two world economic giants will disrupt the economy of each country, as well as hampering fuel demand.
The price of Brent crude oil rose 26 cents or 0.39 percent to US $ 66.89 per barrel.While the price of West Texas intermediate US crude oil rose 22 cents or 0.34 percent to US $ 64.18 per barrel.
US President Donald Trump extended the ceasefire of a trade war with China for 90 days.
With this decision, the US postponed the imposition of three-digit import duties for goods from China that entered the US ahead of a crucial year-end holiday season.
The delay increases the expectation that an agreement can be achieved between the two largest economies of the world, and can help avoid the virtual trade embargo between the two.
Because, the risk rate to slow down economic growth, so that it can weaken global fuel demand and also reduce oil prices.
Investors are also waiting for a meeting between Trump and Russian President Vladimir Putin on August 15 in Alaska, USA.The second meeting to negotiate the end of the Russian-Ukraine War.
This meeting is scheduled in the midst of increasing US pressure on Russia, with the threat of heavier sanctions against Russian oil buyers, such as China and India if there is no peace agreement Kyiv and Moscow.
“Every peaceful agreement between Russia and Ukraine will end the risk of interference with Russian oil that has haunted the market,” wrote Daniel Hynes, an AZ senior commodity strategist, quoted
Reuters,
Tuesday (12/8).
Trump set a time limit last Friday for Russia to approve peace with Ukraine.If not, cheap Russian oil buyers are threatened with sanctions too.
Washington has also urged Mumbai and Beijing to stop buying Russian oil, with the threat of additional tariffs.
[Gambas: cartitleloans video]
(PTA)
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