The oil slides in rough stocks of the United States, the Chinese and state tariff war

Written by Si Liu

SENGAFAR (Reuters) – Oil prices fell on Wednesday as stocks in the United States increased and marketed in the market over the new Chinese war war compensated by President Donald Trump to eliminate Iranian crude exports.

Brent crude contracts fell 21 cents, or 0.28 %, at $ 75.99 a barrel by 0701 GMT. The western United States of Texas (WTI) lost 11 cents, or 0.15 %, to $ 72.59.

Oil was traded on Tuesday in a wide range, with a 3D decrease in 3 %, which is its lowest level since December 31, after China announced the definitions of American imports of liquefied oil and natural gas and coal in revenge on American fees on Chinese exports.

However, the prices recovered after Trump regained the “maximum pressure” campaign on Iran to limit its nuclear program, which he enacted in his first term that reduced Iranian crude exports to scratch.

John Rong Youb, a market expert in the market in IG, said his weight on Wednesday was raw inventory data in the United States overnight.

Raw shares rose by 5.03 million barrels per week on January 31, according to market sources, citing the numbers of the American Petroleum Institute.

Gasoline stocks increased by 5.43 million barrels, and distillation stocks decreased by 6.98 million barrels, according to the sources.

The official US government oil stock data is scheduled to be released at 1530 GMT on Wednesday.

High stock and fuel oil stocks in the largest consumer consumer consumption in the world, which increases the investor’s concerns about the impact of definitions on economic demand expectations and demand for global energy.

“The impact of Chinese reprisals on US energy imports will be limited” given that the global offer or demand for these goods is not changed through the customs tariffs in China. “

The note said that both countries will be able to find alternative markets.

As for Iran, Trump on Tuesday re -carried his “maximum pressure” campaign on Iran, which includes efforts to push oil exports to scratch to prevent Tehran from obtaining a nuclear weapon.

While Trump said he was open to a deal with Iran, he signed a presidential memorandum re -imposing Washington’s difficult policy on Iran. Anz analysts said on Wednesday, citing ship tracking data.

“The disruption on Iran may be what is required to achieve stability in the emotional feelings of oil prices at the present time, and there may be room for more recovery, at least in the short term,” said Yep’s YEAP.

(SIYI LIU coverage in Singapore and Lila Kernie in New York; Editing Christian Shamoulinger, Kim Kojil and Sad Side)