Oil prices are somewhat on Tuesday
gone up. The recovery continued given the recent losses
but within narrow limits. Finally, a barrel (159 liters) cost the
North Sea variety Brent $ 22.83. That was 7 cents more than on
Monday. The price of a barrel of American WTI rose
by 39 cents to $ 20.48.
Economic data from China turned out better than expected
for a little more confidence in the financial markets and also supported that
Oil prices. In March the mood in the industrial companies had changed
of the country and in the area of services much stronger than expected
brightened. The data suggest a recovery in Chinese
Economy.
Previously, oil prices were already cut by a rate cut
Chinese central bank has been supported. The also benefited
Oil market from the reviving oil processing industry of the
People’s Republic. Market watchers pointed to the rising
Utilization of refineries in the second largest economy in the
World that had reached the level before the Corona crisis.
Russia’s President Vladimir Putin and U.S. President Donald Trump
have given Kremabenaben given the coronavirus pandemic
Opportunities for closer cooperation discussed. A change
However, experts do not expect on the oil market. Even if both countries
would limit their output, according to Commerzbank
hardly change the situation on the oil market. “Because the real problem,
namely the slump in demand, would even be a total
illusory reduction in production by five million barrels
hardly compensate every day, “it says in a comment
AXC0485 2020-03-31 / 18:32
Copyright dpa-AFX Wirtschaftsnachrichten GmbH. All rights reserved. Redistribution, republication or permanent storage without the express prior consent of dpa-AFX is not permitted.
– .
