Oil jumps 4%as traders point out the “risk of returning” after China-Eua commercial truce

Oil jumped up to 4% before gaining earnings Monday after A United States commercial truce Sent the highest global stock market and goods.

West Texas Intermediate (Cl = f) Future accumulated more than 2% up to $ 62.50 per barrel. Brunt raw (Bz = f), the international point of reference was also bouncing to trade above $ 65.

The manifestation of Monday oil price was exacerbated by a probable short position after talks between the United States and China It gave rise to a 90 -day break over the rates and the substantial reduction in duties.

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“For merchants is a” again “signal that causes a short raw coverage,” said Dennis Kissler, a Senior Vice President of Bok Financial, in a client note. Investors had feared that the trade war would cause economic slowdown, affecting oil demand.

In other news, the Saudi Aramco oil giant announced over the weekend Benefits saw the last quarterFeeding the speculations that Saudi Arabia, the leader of the Organization of Oil Exporting Countries and its Allies (OPEC+), could push to reduce some of the recent promises of cartel production.

Futures have dropped more than 12% year to date, as fears of decrease in demand for a world trade war and more supply expectations of the OPEC have weighed on prices.

Last week, Shale Diamondback producer (FangThat) warned domestic production He would probably have achieved and decrease in the next quarters, given the current prices.

Goldman Sachs analysts see the disadvantaged risks for oil if Opec+ advances with their production increases or even decides to increase in July.

“We hope that the growth of solid supply outside of us will weigh the prices and the supply of schist in the United States and update our estimates of risks (mostly disadvantages) for prices,” said Daan Struyven and his Goldman team and his team.

Analysts expect Brent to be reduced and the average of $ 60 the rest of 2025, with WTI with an average of $ 56.

Ines Ferre is a higher business journalist from Yahoo Finance. Follow -The to x to @ines_Ferre.

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Correction: An earlier version of this article. We regret the error.