Crude records declines in mid-European trading today, Thursday, July 14th, and with the opening of the US markets, affected by the rise in the US dollar and the rise in global recession fears, as US crude (NYMEX) is trading down by 2.36%, trading at levels of 94.04 dollars per barrel, while Brent crude is trading at Levels of $ 97.56 a barrel, down by 2.01%

The US dollar is trading at the highest levels in twenty years at 108.75, rising today by 0.77%, after the inflation figures issued by the United States of America yesterday, Wednesday, which recorded levels that are the highest in forty years, and due to the inverse relationship between the price of the dollar and the commodities denominated in it, oil is negatively affected and trades on dips

Meanwhile, fears are rising due to the continued rise in cases of Covid 19 in China, as the health authorities in China announced 366 new infections today, Thursday, to start some cities to raise the degree of caution and impose more restrictions, thus putting pressure on the levels of demand for oil in the largest importing country for crude. In the world .

The US Energy Information Administration had shown in its report issued yesterday, Wednesday, a rise in inventories by 3.3 million barrels in the last week ending on the 8th of July, compared to expectations that indicated an increase of about 1.4 million barrels, and in details, gasoline stocks rose by about 5.8 million barrels, while stocks also rose Distillates, which include heating fuel and diesel, are about 2.7 million barrels.