Therefore, although the decline in crude oil prices this week has exceeded the increase, as long as the crude oil market can hold $70, the crude oil market has not lost its dominance of the rise. In terms of trends, the upward trend of the Bollinger Bands three tracks has slowed down, and other indicators have also appeared. With varying degrees of bearish signals, it can indicate that short-term oil prices have been under obvious pressure. At present, they are temporarily looking towards the bottom of 70 US dollars. If they hold, the market is expected to rebound next week. If they fall, the market may further fall to 68 US dollars or even lower next week.Crude oil market trends .
In September, the three buyers of Iranian oil, France, the Netherlands and South Korea, did not buy any Iranian oil. Compared with April, Iran’s daily output of oil and condensate dropped by 0 million barrels, a drop of 9%. In April it was Trump who announced the U.S. withdrawal from Iran
China Oil Net, June 26. After the OPEC meeting in Vienna, the oil ministers of the United States and Russia will meet to further discuss the increase in crude oil production. This news puts oil prices under pressure and is expected to return to the US$65 mark.
Gill’s concern is how much oil prices can still rise, or is there more bad news in the Middle East? Gill added that in 209, the boost to oil prices by supply and demand in the crude oil market will be greatly reduced, and the relative demand for supply will be reduced. Rise again, so the fundamental boost will not be so strong. In recent weeks, the focus of the market has been on U.S. sanctions on Iran and Venezuela, which has caused geopolitical tensions to rise. This is the main factor in the rise of oil prices.
Despite this, Brent crude oil is still up more than 6% from this year's low set in February due to steady demand and conflicts and tensions in the Middle East. Although Syria itself is not a major oil-producing country, the entire Middle East is the most important oil-producing region in the world, and conflicts in the region often make the oil market uneasy. ANZ said that investors remain concerned about the impact of the wider Middle East conflict.
In a report from EnergyAspects, it was assessed that the sanctions imposed by the United States on Iran’s oil industry this month will eventually reduce Iran’s oil production from 700-800,000 barrels per day at Crude oil market trendsthe beginning of the year to 220-
Because OPEC officials remain optimistic about the production increase agreement, the two oils of the US and Burundi have risen short-term. US Oil is now quoted at US$655/barrel, and Burundi Oil is now at US$74/barrel. To be specific, we still have to wait for the beginning of the US market and observe the subsequent changes in the trend of crude oil.
The much-anticipated Iran nuclear agreement was finally ruthlessly torn up by Trump in the early hours of this Wednesday morning. After the US President launched the TPP and the Paris Agreement, the two groups finally launched the Iran nuclear agreement. The price trend is also very dramatic. The oil price first plunged in a straight line, and then immediately rebounded to recover the lost ground, forming a perfect V shape. After the impact of such an event, the crude oil price finally barely closed near the 70 line. At the opening of the market on Wednesday, the rise in crude oil began to appear completely. The price of crude oil in early trading is almost approaching the previous high of 70.76. It is expected that there will be further room for the market to rise later.