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
- 'This will no longer save you': rescuers warn about a deadly mistake during alarms
- Lomachenko argued with Sternenko on Facebook and recalled the TCC
- Zelensky at NATO summit, attack on Dnipro. Main points for June 24
- Zelensky met with EU and NATO leaders to coordinate support for Ukraine: what was agreed
- Moscow approved the permit for service for stateless persons
- The Netherlands will provide Ukraine with 100 air defense radars and 600 thousand drones: details of the new package
