When will crude oil rise

When will crude oil rise

The OPEC monthly crude oil report will be announced this evening. When the United States sanctions Iran, the OPEC monthly report will reveal whether the production reduction agreement can continue. If the monthly report releases positive news, today's oil prices are expected to sWhen will crude oil risetop falling and rebound. If bad news is released, crude oil prices It faces the danger of short-term collapse.

Interestingly, nearly an hour after the American media reported that the Rashomon incident occurred, news came from the French Presidential Palace that US President Trump did not decide on the decision on the Iranian nuclear agreement when the French and American leaders spoke on Tuesday morning. Give any hint to French President Macron. This statement was subsequently confirmed by Reuters citing a US official.

The global oil market quickly entered a tight balance between supply and demand after achieving the goal of rebalancing supply and demand. The current global crude oil supply is 98 million barrels per day, and the demand for crude oil has reached 99 million barrels per day, and the demand gap is still widening.

The volatility of the U.S. dollar index is good for crude oil prices. Today, the trade situation in Europe and the United States may further escalate. Because the EU will officially impose retaliatory tariffs on the United States today, the euro must fluctuate greatly against the dollar, and crude oil prices may be indirectly affected.

RMB: This week the RMB finally ended its continuous downward trend. On Wednesday, the RMB exchange rate against the US dollar rose by nearly 00 points, and it even set the largest increase in five months on Thursday. Even if the yuan fell on Friday, the market is still optimistic about the yuan.

Although U.S. demand may be strong, theWhen will crude oil rise International Energy Agency's IEA predicts in its latest monthly report that global demand growth in the second half of 208 will slow from 500,000 barrels per day in the first half to 0 million barrels per day.

In the past seven weeks, the price of Brent crude oil has risen by 8% and is currently close to the historical high of $85/barrel. This has also aroused speculation that international oil prices may rise to $00 for the first time in 204 years. /barrel.