Oil futures, on Monday, President Donald Trump’s decision to postpone the European Union’s tariffs until July 9, before the initial profit before the initial profit before starting its initial earnings.
According to trading data in Brent Crude, West Texas increased by 60.02 percent to $ 63.85 per cent and $ 63.85 percent.
The energy complex first compared the Trump’s market announcement on June 1, July 9, compared to the extension on July 9, reaching $ 64.30 in Asia’s trade hours and reached $ 64.30.
Trump agreed to extend after the European Commission President Ursula Von Der demanded additional time to summarize trade talks. The market analyst was noted by Tony Sycamore IG, Tony Sycamore, celebrated the positive point in the futures of crude oil and US capital TrumpLast date extension.
The tariff delay has made concerns about potential trafficking violations that can damage global economic growth and fuel demand. Von Der Leyen explained his talks as a good call, and Europe, the talks are ready to move rapidly and determination.
However, the initial rally was short-term as a pricing behind the high in the morning. Technical analysis, despite the geopolitical catalyst in both trends, trapped in the trade interval.
Brent Crude, the struggle with the main resistance
Brent Crude continues to trade at the bottom of the average of 50 days of resisting around $ 64.75. The levels of support are between $ 63.50 for Brent and $ 60.50 for WTI based on the final price activity, between $ 60.00.
Bollinger bands, near the lower band, offering Oversold conditions, indicate the continuous variability near the lower ribbon. The reading of the neutral power index is a balanced acceleration after the previous overhead conditions in the neutral area around 45-50 in the neutral area.
Volume samples remain subordinate after watching the Weekend Week of Memorial Day in the United States. OPEC + Supply concerns continues weight from the part of Sunday’s production.
The organization plans to discuss more than 411,000 barrels per day in July in May and June. Warren Patterson, Ing Groep expects the group to increase significant supply in the second half of the group in the second half of 2025.
U.S. raw reserves, according to API, 2.5 million barrels last week, increased last week, and the summit contradicted seasonal boot expectations.
Baker Hughes said that since November 2021, as the operators responded to the price pressure, the lowest hour, US companies reduced the active oil equipment from 8 to 465.
The tariff extension has been temporary relief from trading tensions with trade tensions since January since January. Trump’s extensive tariff policy and revenge measures were held cloudy forecasted demand forecasts in 2025.
European stock futures jumped significantly after watching the announcement, increasing the euro Stoxsh 600, 1.54 percent and 1.35 percent.
Nuclear talks between the United States and Iran reduced the fears about the limited progress and additional Iranian oil in global markets.
Trade and tariff developments are likely to manage the prices and risk of raw oil during the week, assessing the sustainability of current geopolitical regulations.
