Tuesday 26 Aug/2025 – 09:49 AM
Oil prices declined in light of the marketing of the developments of the Russian -Ukrainian conflict, in conjunction with the processes of reaping investors for profits after the gains of the previous session.
Oil is declining globally with market evaluation of developments in the Russian -Ukrainian conflict
During Tuesday’s trading, Brent crude futures fell 0.45% or 31 cents to $ 68.49 a barrel.
The prices of US NIMEX futures for October delivery decreased 0.5% or 34 cents to $ 64.46 a barrel.
This comes after both decades rose to their highest levels in more than two weeks yesterday, Monday, bypassing the moving average for 100 sessions, according to Reuters.
The US Petroleum Institute report is expected to be issued on the United States oil inventories later today, before announcing the official data from the US Energy Information Administration tomorrow, Wednesday.
On the other hand, US President Donald Trump stressed, last Friday, the possibility of imposing new sanctions on Russia in the event that tangible progress is not made in the negotiating path during the next two weeks.
On the economic side, expectations increased close to US interest rates after statements by the Federal Reserve Chairman, Jerome Powell, who hinted at the possibility of taking this step during the next monetary policy meeting.
Analysts in ANZ believed that the improvement of investors ’appetite for risk contributed to increasing the demand for basic commodities, in light of the continuing concerns related to supplies, especially in the energy and mineral sectors.
