26.03.2020 BRENT OIL Daily Analysis

26.03.2020 BRENT OIL Daily Analysis

BRENT OIL 26.76 USD - 0.64usd,- 2.37% US President Donald Trump was expected to have a meeting with Saudi Arabia in which they were going to have a discussion on how they can support the oil prices but today Trump came with a different story that had to put pressure on the oil prices again. Trump announced that he was not going to get involved in the oil price war between Saudi Arabia and Russians and he highlighted that the low prices are good for the consumers for now even tho it is damaging the industry so as of now is for the Low prices of oil and he said he will get involved only when the time is appropriate. The prices of oil keep on trading on low because more travel bans are being implemented everywhere globally so the demand for oil is decreasing even more.