Crude oil prices sank slightly last week

The NYMEX WTI crude oil price sank slightly this past week (July 25 – August 1), closing Thursday’s trade at USD 53.96/barrel (down 4% week-over-week):

– at its July 31 meeting, the Federal Reserve cut interest rates for the first time in more than a decade, to 2-2.25% from 2.25-2.5% per annum;

– the rise in demand shows signs of a slowdown due to trade contradictions, Brexit and other events, which potentially weaken economic growth and, consequently, demand for crude oil, reports UkrAgroConsult.

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Please be reminded that on September 5, UkrAgroConsult will host a major meeting point of the oilseed industry operators – the 7th International Conference “Black Sea Oil Trade-2019” in Hilton, Kyiv, Ukraine.

‘Black Sea Oil Trade’ conference annually brings together key players of the global agribusiness at the start of a new oilseed season. The goal of the conference is to discuss prospects and directions of the Black Sea and global oilseed market development, exchange international contacts, share recommendations for adapting business strategies in the changing market and global trade.

More than 250 delegates from 25+ countries attend the conference annually. Conference participants are represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegoils, investment companies, banks, legal, shipping, brokerage, insurance, surveyor and other companies.

UkrAgroConsult