Crude oil ** 101 to expand the decline above

On Monday (July 28), the main crude oil contract on the New York Mercantile Exchange fell 42 cents on Monday to close at $101.67 per barrel, a decrease of 0.4%.

Crude oil supply is still sufficient to pressure crude oil prices, while the Gaza Strip temporarily ceased. However, due to geopolitical factors, crude oil prices are expected to continue to be supported.

Crossfire in the Gaza Strip weakened on Sunday. Earlier, Hamas activists said they supported a 24-hour humanitarian ceasefire. US President Barack Obama also called for a ceasefire, but he did not see signs of a comprehensive ceasefire agreement between Israel and Hamas.

Ken Hasegawa, product sales manager for Newedge Japan, said that a 24-hour ceasefire in Israel and the Gaza Strip put oil prices under pressure. US crude oil ** is in a range of 100-105 US dollars / barrel turbulence.

Medical and security sources said that at least 36 people were killed when Libyan special forces and militiamen clashed in Benghazi on the eastern part of Libya on Saturday night and Sunday morning.

JBC Energy commented on Monday that although crude oil prices have fallen, geopolitical tensions have kept the market vigilant. Libya is trying to increase crude oil exports, but the country’s government forces and militants are fighting fiercely in the eastern city of Benghazi. At the same time, the European Union has expanded its sanctions on the Russian side at the weekend. At the same time, oil tankers in Iraqi Kurdistan were allowed to unload at Texas Crude Terminal. One thing that can be confirmed is that there will be an escalation of tensions between the Kurdistan Regional Government and Baghdad.