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Trump Will Take Revenge on Middle East because of Crude Oils


Donald Trump threated some Middle Eastern oil producers to take revenge on them because of crude oil prices. This is not the first time the American president is criticizing the Middle East in Twitter for being reluctant to contribute to lower oil prices. 
 
On September 20th, he posted a new tweet addressed to the oil producers from the Persian Gulf. In this tweet, he urges the OPEC to cut their export oil prices as soon as possible:
 
"We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!"
 
Strangely enough, Donald Trump's tweet didn't surprise the market. Oil prices have been relatively high for quite a while, even despite minor ups and downs that are seen on any market on a regular basis. On September 21st, Brent oil traded within the range between $78,5/b and $80,02/b. At the same time, WTI oil traded around $70,5/b.
 
By the way, Donald Trump posted something similar to that back in June 2018. In his tweet, he criticized the OPEC for starting to manipulate oil prices again, which a bad thing to do. Back then, Brent and WTI oil cost 75 and 66 dollars per barrel respectively. As you can see, oil prices have gained a bit since then, which is something the U.S. president doesn't like at all.
 
At the same time, we can understand the OPEC's motivations. The bigger the prices, the more money they earn in foreign currency. On the other hand, high oil prices are something that oil importers would not like to see. At the same time, higher oil prices lead to costlier diesel and gasoline, which contributes to stronger inflation. 
 
As for market predictions, international experts assume that Brent oil is going to stay within the 75-80 range until the end of 2018, unless a major trade war or some tensions in the Middle East break out.
 
 
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Gold Sets New Records

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Publication date: 14 January 01:23 AM

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Publication date: 27 September 04:52 AM

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Publication date: 24 September 05:15 AM

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Publication date: 05 September 03:28 AM

US-China Trade War Makes Oil Prices Drop

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Publication date: 04 August 08:33 AM

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Publication date: 03 August 04:17 AM

Middle East Tensions Support Oil Prices

The currenty trading week has been controversial for the international market of crude oil. Chances are, the market is going to be relatively neutral throughout the rest of the week. Brent oil is trading around 63,50 dollars per barrel while WTI costs 56 dollars per barrel.
Publication date: 30 July 11:07 AM

Is Economic Decline In USA Inevitable?

The NY Fed model points out to the fact that the probability of another recession in the American economy has increased all the way up to 33%. Over the last 50 years, such signals have almost always bee followed by recessions.
 
Publication date: 13 July 08:39 AM

Will USA Manage To Prevent Stock Market Crash?

The U.S. Federal Reserve has eased their rhetorics in order to avoid another stock market crash. International experts are now trying to predict the possible consequences of the decision made by the American financial regulator, especially form the stand point of international investors. 

Publication date: 11 July 11:31 AM