Oil prices start the week on the rise; it was influenced by orders signed by Trump – Sectors – Financenet

The price of Brent futures on the London Stock Exchange in October reached 44.89 dollars per barrel, which is 0.49 dollars more than during the previous trading session. Oil prices fell 1.5% last week to $ 44.4 a barrel.

Meanwhile, WTI’s September futures on the New York Stock Exchange fell 1.48% last week to $ 41.83 a barrel.

It is noted that one of Trump’s orders provides for the partial provision of additional payments for unemployment benefits. Such payments will go to tens of millions of Americans who have lost their jobs due to the coronavirus pandemic. The additional support is expected to be $ 400 per week, 75% of which will be covered by the federal government and 25% by the state authorities.

Other orders include the abolition of tax payments for people earning less than $ 100,000 a year, as well as the extension of various student loan repayment terms.

The relatively positive response to such orders suggests that investors expect payments to support the economy and the population before Congress acts, Axicorp experts say.

The oil market this week will focus on US-China trade talks, which will also address issues related to China’s energy imports.


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