Oil prices fell Wednesday morning globally in the third session in a row, thanks to recent tensions that have seen a significant escalation between the United States and China.
In a related economic context, these tensions have witnessed a significant escalation between Beijing and Washington, before the recent trade talks this weekend, which made it more difficult to the global economy and demand for oil at the global level, especially after the end of transparency at the moment and the presence of fog on the future of global oil.
Recent tensions have curbed world prices in oil prices globally without any economic justification.
The data released by the United States of America reveals a significant rise in stocks of global crude oil, especially as the United States of America is the largest producer and the largest consumer of oil at the global level, which put great uncertainty on the future of oil at the global level.
At 0700 GMT, Brent crude futures fell about 12 cents, or 0.2 percent, to more than fifty-eight dollars per barrel, while US West Texas Intermediate crude also fell about 12 cents, or 0.2 percent, to More than fifty-two dollars a barrel.
On the other hand, it is scheduled to meet negotiators from the largest economic countries in the world in the United States tomorrow and Friday, to discuss what is happening to oil at the global level and reach a permanent agreement, the aim of which is to end the protracted trade dispute and caused a slowdown Global economic growth.
The recent tensions between Washington and Beijing have increased this week, after the US imposed visa restrictions on some Chinese officials.
The crisis between the two countries eventually escalated on the back of comments from a senior NBA official supporting the protests in Hong Kong.
At the same time, the data of the Institute of Petroleum in the United States, on Tuesday evening, that the crude oil inventories in the US rose by four million barrels in the week ending October 4, an average of 422 million.