Rise In Oil Prices Has Come To An End

The rise in oil prices has come to an end. With the news from the US and China, prices started to decline.

The four-day decline in oil prices has come to an end due to the re-engagement of the pipeline, which is very important due to gasoline consumption in the USA, following the cyber attack last Friday and the intervention signal of rising commodity prices from China. West Texas-type crude oil lost more than 1 percent on the new trading day, after recording a two-month high on Wednesday. Brent oil also experienced a loss of more than 1 percent. With the resumption of the pipeline, which was attacked on Friday in the US and critical for the East Side's fuel supply, demand from consumers emptying gas stations is expected to normalize. Along with the improvement in oil prices in the USA, the announcement from China also played a big role. Chinese Prime Minister Li Keqiang stated that his country would effectively combat and overcome the rise in commodity prices and its effects. Li's statement brought a decline not only in oil but also in commodities such as iron ore.