Crude oil prices increased last week

The NYMEX WTI crude oil price increased this past week (August 8-15), closing Thursday's trade up 3.7% week-over-week at USD 54.47/barrel. It was pushed up by the following factors:

– news that the US had delayed until mid-December the imposition of its 10% tariff on some Chinese goods;

– statistics on the US economy that eased concerns about its condition and signs of a looming recession. July witnessed a 0.7% month-over-month increase in retail sales in the US, although analysts had predicted them to gain just 0.3%, 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