Vienna (APA) – The price of US oil did not recover on Monday afternoon from its recent losses. At five in the afternoon, a barrel of 159 liters of West Texas Intermediate oil (WTI) cost $ 63.07, down 0.36% on Friday. The futures on a North Sea Brent barrel traded at $ 72.13.
In the market, declining prices were associated, among others, with statements by US President Donald Trump. Trump had again interfered on Friday with the promotion policies of major oil states. He had talked to Saudi Arabia and other producing countries about growing production volumes, Trump tweeted before the weekend. Saudi Arabia is the main member of the Organization of Petroleum Exporting Countries (OPEC). In recent months, Trump has repeatedly called on the oil cartel to boost oil production.
However, the media referred to OPEC representatives who could not provide any information about Trump's contacts with the oil cartel. According to commodity experts at Commerzbank, OPEC is unlikely to be involved in binding statements as long as the details of US sanctions against Iran are unknown.
In addition, experts pointed to Russia's announcement that transporting oil through a major pipeline to the west could be resumed within two weeks. The pipeline closed last week due to heavy oil contamination.
London's gold price in the afternoon was $ 1,278.79, below the closing price of $ 1,285.84 on Friday.
List of selected raw materials:
Crude Oil (USD / Barrel): Last Change (%) Brent 72.13 72.16 -0.04 WTI 63.07 63.30 -0.36 OPEC-Daily 72.38 74.04 -2.24 Precious Metals (Spot / USD): Gold 1,278.79 1,285.84 -0.55 Silver 14.90 15.05 -1.00 Platinum 890.27 899.55 -1.03 Agricultural Products (USD): Robusta Coffee 108.25 110, 35 -1.90 Cocoa 2,363.00 2,344.00 +0.81 Sugar 334.80 340.00 -1.53 Maize 165.75 166.00 -0.15 Soybean 854.00 853.75 +0.03 Wheat 172.50 173.25 -0.43 ~