Crude prices decline in energy demand concerns

That is, September of WTI (Clu25) today decreased -0.93 (-1.40 %), and September RBob Gasoline (RBU25) decreased -0.0088 (-0.42 %).

Crude oil and gasoline prices are under pressure today, with crude drop to the lowest level per week. Fears related to weak energy demand weighing crude prices after the Jul ISM service index in the United States is unexpectedly decreased. The prices of crude have a negative deportation from Sunday when Opec+ raw levels of crude production, which fueling fears of the global excess.

Weakness in global economic news is low for energy demand and raw prices. The US ISM service index has decreased unexpectedly -0.7 to 50.1, i.e. weaker than the increase expectations to 51.5. Also, the Jul Jul S & P’s Signal Sign Directors were reviewed by the -0.1 to 50.9 of the previously 51.0.

Fears related to the curiosity of global oil supplies weighing crude prices after Opec+ on Sunday supported an additional increase of 547,000 barrels per hour in its raw production on September 1. OPEC+ enhances production to reflect a two -year production reduction, which increases production to a total of 2.2 million barrels. OPEC+ 1.66 million barrels per day of supplies that are currently scheduled to survive without connecting to the Internet until late 2026. The International Energy Agency said that stocks accumulate at a rate of one million barrels per day and that the global crude oil market is facing a Q4-2025, which equals 1.5 % of global correct consumption. The production of OPEC July -20,000 barrels has decreased to 28.31 million barrels per day.

Raw prices pushed after President Trump said last Monday that he would impose a new tariff on countries that buy Russian energy unless Russia reaches a ceasefire with Ukraine by Friday. Jpmorgan Chase has warned that if applied, oil markets will not be able to ignore the impact of a tripartite customs tariff on Russian oil, given the large range of Russian export and the capacity of limited OPEC, which may lead to shocking the show.

The European Union recently agreed to new sanctions on Russian oil because of its aggression against Ukraine. The sanctions package includes a reduction in 20 other Russian banks from the Swift International Payments System, as well as restrictions on refined Russian oil in other countries. A large oil refinery in India, partly owned by the Russian Rosneft PJSC, was also included in the black menu. In addition, 105 other ships were approved in the shadow fleet in Russia, prompting the number of ships over 400.