New York/London (dpa-AfX)-Oil prices hardly changed on Wednesday before the announcement of US tariffs. A barrel (159 liters) of the North Sea variety Brent for delivery in May cost $ 74.42. That was 8 cents less than the day before. The price for a barrel of the US variety WTI, on the other hand, rose by 6 cents to $ 71.27.
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On the oil market, the investors held back before the announcement of tariffs by President Donald Trump, which is expected in the United States after closing the IPO. The Republican spoke of a “day of liberation” and mutual tariffs. In the end, however, it was unclear whether the US government could simply get a flat-rate tariff on the way. It is currently unclear how high the punitive measures are and who you will meet.
The participants in the oil market would go back their commitments, said Chris Weston, analyst at the Australian Handelshaus Pepperstone. Accordingly, they would wait for the “day of liberation” and possible price fluctuations. It is unclear how the market reactions on the customs announcement will ultimately be canceled.
The unexpected and clear increase in oil reserves in the USA did not put the prices. According to the Ministry of Energy, the crude oil reserves rose by 6.2 million to 439.8 million barrels (159 liters each). Analysts, on the other hand, expected an average of 0.5 million barrels ./Jsl/he