Crude oil spot price quote
1/19/2021

Crude oil spot price quote

By Crude oil market dynamics

On the daily chart, the K-lineCrude oil spot price quote range oscillated around 66-68 U.S. dollars, falling from a high of 78 U.S. dollars, the upward channel was broken, and the oil price outlook tended to bearish risks. And the auxiliary indicator MACD fast and slow line showed a downward trend of dead cross, green kinetic energy increased.

Total mentioned in its announcement on Wednesday that Total must withdraw from all operations related to the South Pars gas field project before 4th, 208, unless it can obtain a special exemption from the United States with the help of French and European authorities.

The U.S. Energy Information Administration’s EIA report on Wednesday showed that as of the week of June 6, U.S. crude oil inventories increased by 480,000 barrels to 46.9 billion barrels, recording growth for 9 consecutive weeks, increasing to the highest level since early February 207 and a record high. The longest consecutive increase since 207, the market estimated an increase of 290,000 barrels. In addition, US domestic crude oil production was flat at 700,000 barrels per day last week.

At present, the market is worried that as the United States withdraws from the Iran nuclear agreement and the situation in Venezuela is volatile, Iran and Venezuela may also reduce production. The Economic Information Daily pointed out that because the United States is likely to take the opportunity to expand its oil exports, it will expand its share of the oil market. In order to maintain oil prices, OPEC will have to tolerate the encroachment of market share by the United States, and even further reduce production to maintain oil prices, thereby losing more market share.

I have been counting on US crude oil to rise one day. In just a few weeks, US crude oil fell from about US$7 per barrel to US$65. . . Moreover, even in the seasonal decline window, it is a big market for oil prices to fall all the way without correction, ICAP-TA Chief Technical Analyst Walter

Although the United States once again successfully withdrew from the group, Iran was very restrained and stayed in the Iran nuclear agreement for the time being. This led to the confusion that the market expected did not appear. The market expected that the United States tore up the agreement, which caused Iran to withdraw from the agreement. In turn, the nuclear chaos in the entire Middle East started, and crCrude oil spot price quoteude oil prices also rose sharply. However, because Iran has not withdrawn from the agreement at the moment, the crude oil rally only lasted for a short time before returning to calm.

Last week, after the outgoing prime minister, Haider Abadi, whose coalition accounted for only one-third of the votes in the election, the Parliament ordered a manual recount of votes and stated that there was an electronic vote count process. Irregularities.