News crude oil prices

News crude oil prices

In response to Iran’s vows to resume uranium enrichment, Israeli Prime Minister Netanyahu said: Israeli ruler Khamenei has announced his intention to destroy Israel. YesterdNews crude oil pricesay he explained how to do this: Unrestricted enrichment of uranium will create a nuclear weapons arsenal. We are not surprised by this. We will not allow Iran to acquire nuclear weapons.

During the press conference held in the White House on July 0, Eastern Time, a reporter asked Trump if he would like to meet Iranian President Rouhani. Trump replied that I would be happy to meet anyone and talk to others, especially when talking. By the time war, death, famine and many other things may happen. There is nothing wrong with the meeting. Trump said: Of course I will meet with Iranians if they want. He also said that he would not ask for any prerequisites.

In May, affected by the sharp increase in crude oil production in the United States and Saudi Arabia, the less effective U.S. sanctions against Iran, and the sharp drop in U.S. stocks, international oil prices fell by 28% within a month. In February, although OPEC reached an agreement to cut production, not all OPEC member states will cut production. For example, countries such as Iran, Venezuela, and Libya that have suffered economic crises due to crude oil have been exempted, and Qatar, a member country, has even opted out of OPEC. As a result, the market has poor expectations of OPEC's production cuts. In addition, the production reduction agreement will come into effect in the month of next year, and the effect of the production reduction will not really appear until February to next year. The market is even less expecting a reduction in production.

Although fund managers said they are still optimistic about the prospects of the oil market, their bullish sentiment has cooled from the first quarter of this year, and their long-short position ratio has dropped from 4:4 in mid-April to 45: today. The ratio of long-short positions of Brent crude oil hedge funds dropped from 20: in mid-April to 8:, and the decline in European gasoline was even more surprising, from 29: at the end of May to:.

As oil prices continue to rise, inflation in major crude oil-consuming countries has gradually increased, suppressing demand for crude oil, leading to a decline in the consumption of crude oil and related products, which prompted OPEC to start seeking to increase production to prevent rising oil prices, leading OPEC Saudi Arabia and Russia, a leading non-OPEC oil producer, subsequently announced that they would consider increasing production, which is expected to increase by 0 million barrels per day. In contrast, Russia appears more aggressive, saying that it will increase production by 800,000 barrels per day. , Which means that global crude oil production will return to the level of 206, leading to a rapid fall in oil prices.

After the United States withdrew from the Iran nuclear agreement, Iran did not choose to withdraw from the agreement, but stayed in the agreement temporarily. This made the entire Middle East situation no sign of a nuclear race. However, Iran also said that if Iran follows The interests of Iran cannot be guaranteed, and Iran will still withdraw from the INews crude oil pricesran nuclear agreement, so Iran’s move is a time bomb, and the US sanctions against Iran are undoubtedly a test on the verge of detonating the bomb.