Oil is resuming its decline

After yesterday's recovery, the price of oil went down again today. Brent with delivery next month was traded at levels of $73.30 by noon. The risks of oversupply of raw materials have begun to dispel concerns about tensions between the United States and Iran.
Yesterday, the President of the United States addressed the Iranian president a serious threat to Twitter, which was repeated by other officials of the government. All of this, bent market participants, to the expectation of further oil supply problems. It rose to $74 a barrel, but failed to keep up on that level and began to fall again.
Saudi Arabia and large producers are increasing their yields to offset the losses likely to come as the deadline for imposing sanctions approaches.
Meanwhile, US pil reserves at the supply center in Cushing, Oklahoma, increased at the end of last week, retailers have reported, referring to information from the Genscape Market Research Agency.
In the last week of the month, however, inventories in the center are expected to drop, add traders. Further clarity on the state of supply is expected to be made tomorrow after the data on oil stocks in the world's largest economy.
The attention of market participants has moved away from escalating disputes over the impact of world trade on global economic growth and the demand for energy sources and raw materials.
Over the weekend, the G20 financial leaders voiced concern about the global economy's risk that may be the trade strain between the United States and China.