Oil continues its decline as the dollar strengthens after Trump's victory.
Oil prices are falling due to weak demand in China and the strengthening of the dollar.
According to the news agency Bloomberg, the price of Brent oil is around $72 per barrel, while the price of West Texas Intermediate oil is below $69.
Weak consumer inflation in China and declining wholesale prices are also influencing the decline in oil prices.
The decline in oil prices also indicates a weakening of the short-term supply deficit in the market and weakens its indicators.
Oil traders are analyzing the prospects for global demand in the coming years, taking into account factors such as the strengthening of the dollar and tensions between Israel and Iran.
This week, investors will receive important forecasts from OPEC and other organizations.
In its latest report, OPEC has lowered its forecasts for oil demand.
Read also
- The USA has lost positions: Europe has 'outpaced' the Pentagon in military aid to Ukraine for the first time
- Frontline situation as of June 16, 2025. General Staff Report
- The EU has found a way to completely abandon Russian gas
- Occupants have significantly reduced activity in the Sumy direction: border guard data
- Merz: Iran Must Not Be Allowed to Have Nuclear Weapons
- An abnormally high number of skirmishes in the Novopavlivka direction - OSUV 'Khortytsia'
