Afshin Sazegar | The oil prices have given way on Thursday morning. Last cost a barrel (159 liters) of the North Sea Brent 58.18 dollars. That was 14 cents less than the day before. The price of a barrel of the American West Texas Intermediate (WTI) fell 17 cents to $ 52.50.
Last week, US stocks had risen significantly on Wednesday afternoon, according to the US government. Rising oil reserves usually weigh on oil prices, as they may be an indicator of lower demand or supply. In the further course of trade, the upcoming trade talks between the USA and China are moving into focus. Despite recent tensions, the world's two largest economies seem to continue to seek an agreement that can mitigate the trade dispute.
If the talks fail, a further price decline is to be expected, because then the demand worries will increase again significantly.