Energy analysts said on Wednesday August 5 that US shale oil production will Fidelity Crude Oil Fundcontinue to grow, which will offset the decline in production in other oil-producing regions in the coming months. Stephen, PVM Oil Company Analyst
In Asian trading on Wednesday, June 6, the two major crude oil prices rose slightly. In this regard, Reuters Commodity and Energy Technology Analyst Wang Tao wrote an article that ignoring fundamental news, only from a technical perspective, the two major crude oil prices may test resistance.
As of press time, spot crude oil prices fell slightly by $0.0, or 0.0%, to $620 per barrel. In the short-term, focus on the support of $68 below. If it breaks down, it proves that the current round of oil price rise is an inducing market, and the market outlook is still bearish.
The US government requires buyers of Iranian oil to cut imports to zero in order to force Iran to negotiate a new nuclear agreement and limit its influence in the Middle East. People familiar with the matter said that the petrochemical company will halve the amount of crude oil imported from Iran this month because it is under tremendous pressure from Washington. However, the Iranian Foreign Minister said that India, the other largest buyer, promised to buy oil from Tehran.
The current round of domestic refined oil price adjustment coincides with the May 1st holiday. Private car owners and logistics companies will increase their fuel costs during the May 1st holiday. Based on an ordinary private car with a fuel tank capacity of 50L, after this price adjustment, car owners will spend about 8 yuan more to fill a tank of fuel.
Regarding the issue of the Iran nuclear agreement, the situation in Iran and Israel is Fidelity Crude Oil Fundalso escalating. The latest news from the Israeli media stated that Iran is preparing to launch a missile attack on Israel in retaliation for the death of seven Iranians in an air strike on the T-4 air base in Syria in early April.
Russia and Saudi Arabia have similar production. With OPEC and Russia loosening supply restrictions, three countries may soon have an average daily output of 0 million barrels. This unprecedented output means that three countries are enough to meet one-third of global oil consumption.
Early in the morning, the Fed’s decision was in line with market expectations and continued to raise interest rates, but whether the pace of interest rate hikes might be slowed down in the future. This made the low interest rate market environment that Trump was looking forward to. The dollar rose along the trend but it is difficult to change the US economic downturn. The index will have to fall.