Oil prices have fallen amid escalating tensions between the U.S. and Mexico
oil Prices on Friday fell to its lowest level in three months on fears about the recession of the us economy and risks to the global economy against the background of continuing escalation in world trade relations.
July futures for WTI crude oil on the new York Mercantile exchange (NYMEX) for three days fell by 12% to 52.9 59,63 $/barrel, and Brent crude on the ICE Futures exchange in London - with 69,9 61,1 up to $/barrel.
President, trump announced Thursday the introduction of States from 10 June to 5% duties on all Mexican goods, which will operate until the flow of illegal migrants from Mexico to the United States. To address the issue of illegal migration fee will gradually increase and finally canceled it after stopping the flow of migrants.
This decision not only threatens the prospects for economic growth, but also contains risks for the oil market and oil, because Mexico is a major partner of the USA in the field of energy trade.
On the background of decreasing demand on oil reserves in the US remain relatively high. According to the US Department of energy, for a week the oil reserves in the country decreased only by 282 thousand barrels, while experts predicted their decrease of 1.4 million barrels.
According to the Wall Street Journal, USA may allow countries that have not yet chosen States set a limit on imports of Iranian oil for some time to supply oil from Iran, despite the completion in early may expire exceptions to the sanctions.
the Fall in oil prices has significantly affected the agricultural markets, which on Friday on the stock exchanges fell sharply. Escalating trade tension last year significantly changed the trade balances between countries and have made significant adjustments in world prices.