The price of benchmark crudes dropped to a minimum of five weeks

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US President Donald Trump wrote on Twitter about his intention to raise duties on Chinese exports of $200 billion in total from 10% to 25%. This statement influenced the dynamics of oil prices on Monday. By 15:16 Moscow time, their cost dropped to a minimum of five weeks. Brent crude fell 33 cents to 70 dollars 52 cents a barrel. The price of WTI crude oil fell 50 cents to 61 dollars 44 cents a barrel. Analysts worry that a new round of trade war between the United States and China will reduce oil consumption in the world. According to Baker Hughes, the number of operating oil rigs in the USA increased by 2 units last week and amounted to 807 units. According to the company, the increase in the rate is noted for the first time in 3 weeks.

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