Oil prices continue to fall amid the escalation of the conflict between the world's two largest economies.
This is reported by Ekonomichna Pravda with reference to Reuters.
The report says that Brent has fallen to USD 64.47 per barrel, and WTI - to USD 61.23.
Since the beginning of the month, both contracts have lost about USD 10 per barrel.
It is noted that the fall is taking place against the backdrop of concerns about a slowdown in the global economy and a decrease in demand for fuel.
Goldman Sachs predicts that the average price of Brent in 2025 will be USD 63, and WTI – USD 59.
In 2026, they expect a further decline to USD 58 for Brent and USD 55 for WTI.
Global oil demand in the last quarter of 2025 will grow by only 300,000 barrels per day on an annualized basis.
Last Friday, Beijing raised tariffs on American goods to 125% in response to another decision by Donald Trump.
On Saturday, the US made exceptions for some electronics, but on Sunday, Commerce Secretary Howard Lutnick said that some technology goods from China, including semiconductors, would be subject to new tariffs for two months.
Moody’s Analytics notes that China’s economy is “not ready for a trade war.”
Their report states that “consumer prices fell for the second consecutive month on an annualized basis, and producer prices fell by 30%.
Due to the decline in demand last week, US energy companies reduced the number of oil rigs by the most since June 2023.
Separately, Washington is considering a complete halt to Iranian oil exports as part of pressure on Tehran over its nuclear program.
On Saturday, Iran and the United States held “positive” talks in Oman and agreed to meet again to discuss escalation.
As the Ukrainian News agency earlier reported, Urals crude, one of the most critical for the aggressor country, russia, fell to USD 52.76 per barrel.
The last time it was below USD 50 was in June 2023.
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