Oil prices have fallen on global markets: the main reasons
19 May 09:35
Prices for benchmark crude oil grades are falling on Tuesday, May 19, following a sharp rise at the close of the previous session. This is reported by "Komersant Ukrainian", citing Interfax-Ukraine.
As of 8:11 a.m., the price of July Brent futures on the London ICE Futures exchange is down $2.32 (2.07%) to $109.78 per barrel. On Monday, this contract rose by $2.84 (2.6%) to $112.1 per barrel.
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June WTI crude oil futures on the New York Mercantile Exchange (NYMEX) have fallen by $1.67 (1.54%) to $106.99 per barrel so far today. At the close of the previous session, the price of these contracts rose by 3.24% (3.1%) to $108.66 per barrel.
U.S. President Donald Trump stated that, following a request from the leaders of Qatar, Saudi Arabia, and the UAE, he ordered the attack on Iran to be postponed for “two or three days.” The politician added that he hopes he will not ultimately have to resume the operation against Iran, but stressed that a peace agreement must ensure that Tehran does not have access to nuclear weapons.
On Monday, the Tasnim news agency, citing a source, reported that the Iranian side had presented a new version of its settlement proposal to the Pakistanis, who are acting as mediators in the conflict. The Axios website, citing sources, reported that U.S. authorities were not satisfied with the new version of the proposals.
“Signals from Trump have eased immediate tensions, but the fundamental risks remain,” noted Tim Wotterer, senior market analyst at KCM Trade. “Now the market wants to understand whether Trump’s comments mark the beginning of a transition toward de-escalation, or if this is merely a tactical pause.”
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