Oil prices were about at a standstill this morning. The effects of the American interest rate changes and the restriction of the Chinese financial politics are still visible at the global market. The Central Bank of the second oil importing country of the world, China, has increased the earmarked funds requirements of the commercial banks in order to narrow crediting and to avoid economy running hot. The prices are getting higher also for the American government threatening Iran with UN economic sanctions if they continue with their Nuclear programs.
Price of a barrel from West Texas Intermediate for the nearest July deadline was 69.03USD this morning, while it has finished on 68.98USD – 90 cents lower than on Friday.
Brent from the northern seas was 68.03 USD this morning for the closest possible August deadline. On Monday it finished on 68.11 USD, 69 cents lower than on Friday.