Futures of crude oil were traded lower on Monday morning due to factors such as the decision of US President Donald Trump to impose an extra rate of 10 percent on countries that match BRICS policy and with a larger than expected increase in production output by OPEC+.
At 9.55 am on Monday September, Brent Oil Futures amounted to $ 67.80, with 0.73 percent and August crude oil Futures on WTI (West Texas Intermediate) was $ 66.02, a decrease of 0.72 percent. July crude oil -futures were traded at £ 5,665 on Multi Commodity Exchange (MCX) during the first hour of trade on Monday against the previous £ 5,690 closure, a decrease with 0.44 percent, and the Futures of Augustus traded at £ 5,570 against the previous closure of £ 5,46, by 596, by with 0.46, by 596, by 596, by 596, by 596, by 596, by 5596, by 5596, by 5596, by 5596, by £ 55966.
In a message on the social media platform, the Truth Social Trump said: “Every country that is in line with the anti-American policy of BRICS will be charged an extra rate of 10%. There are no exceptions to this policy.”
In another post he said: “I am pleased to announce that the rate letters from the United States and/or deals, with different countries from all over the world, will be delivered from Monday 7 July.”
Recent decisions by Trump on trade rates had influenced the prices of raw materials such as crude oil on the world market.
OPEC+ (Organisation of the Petroleum Exporting Countries and allies) said in a press statement that in view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on December 5, 2024, to start a gradual and flexible return of the 2.2 Million barrels per day Voluntary Adjustments Starting from April 1, 2025, The Eight Participating Countries Will Implement A Production Adjustment of 5.48,000 barrels per day in August 2025 of July 2025 required production level. The gradual increases can be paused or vice versa, depending on the evolving market conditions. With this flexibility, the group can continue to support the stability of the oil market, it said.
In their Nourish raw materials For Monday, Warren Patterterson, head of the raw material strategie of ING Thinking, and EWA Manthey, raw material strategist, said that ICE Brent acts lower on Monday morning after OPEC+ corresponded to a larger than expected supply of 5.48,000 barrels per day, more than the 4.11,000 barrels per day.
“This takes the total announced OPEC+ supply increases to just over 1.9 million barrels per day. And clearly, if OPEC+ would go with a similar increase for September, this would mean that the group not only completely restored the intended 2.2 million barrels per day of the offer, but also the last policy for defending the market share, this this, this is the defense of the market share of the market share of the market share of the market share of the market share of the Defending the Defending the Defending the Defending the Defending the Defending the Defending, this, this, this, this, this is the defense of the market share shareholds, the Defending the Defense Defense Defense, this, this is the defense of the Supply Defense Defense Defending Market share, this policy for defending market share, “they said.
Larger stock increases increase the scale of the surplus on the oil market later this year. This supports the view that there is further disadvantage for oil prices. “We still expect that Brent will exchange at the end of the year at the end of the year, in the midst of expectations, the group will re-increase the supply in September. A more bearish supply outlook, combined with demand insecurity, does not predict well for the prices. The last announcement of the offer that the announcement of the supply increase is on the rise when the offer of the offer comes up with the offer of the time. Deadline for the 90-day break in the input of the 90-act in the import of the 90-day tarters that are on July 9.
Despite the announced increase in delivery compared to OPEC+, Saudi Arabia still continued and he raised his official selling price for August rough oil taxes. The Arabian Light flagship in Asia was raised by $ 1 per barrel month by month to $ 2.20 per barrel above the benchmark, the raw material feed said.
The Natural Gasfutures of July traded at £ 284.50 on MCX during the first hour of trade on Monday against the previous £ 290.80 closure, with 2.17 percent.
On the National Commodities and Derivatives Exchange (NCDEX), Dhaniya contracts were traded at £ 7,150 in the first hour of trade on Monday against the previous £ 7,198 closure, a decrease by 0.67 percent.
Jera Futures in July acted at £ 19,590 on NCDEX in the first hour of trade on Monday against the previous closure of £ 19,720, a decrease of 0.66 percent.
Published on July 7, 2025
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