International: Al Furat News Oil prices stabilized on Monday, as concerns about the dispute between the United States and Iran receded, while investor interest shifted to the signing of a preliminary trade agreement between the United States and China this week, which will boost economic growth and demand.

Brent crude, the global benchmark, rose to 64.99 dollars a barrel by 0737 GMT, while West Texas Intermediate crude increased five cents to 59.09 dollars a barrel compared to the previous session.

Oil prices rose to their highest levels in nearly four months after a US drone raid killed an Iranian military commander and Tehran responded by firing missiles at US bases in Iraq. But prices fell again as Washington and Tehran retreated after they supervised the slide of a direct conflict.

Brent touched global benchmark $ 71.75 a barrel last week before closing last Friday below $ 65. A commodity analyst at Samsung Futures in Seoul, Kim Kwang Rai said, “The possibility of a war between the United States and Iran has diminished for this week. The signing of the trade agreement Between China and the United States will lead to the rise in oil prices thanks to expectations of increased demand.”

News Source: https://alforatnews.com/