How the lifting of the ban on U.S. crude oil exports will affect oil prices

How the lifting of the ban on U.S. crude oil exports will affect oil prices

Croft saidHow the lifting of the ban on U.S. crude oil exports will affect oil prices that he feels that this is a key factor currently ignored by the market. He will pay close attention to the actions of Iran’s leaders on the Nuclear Non-Proliferation Treaty. If Iran finally chooses to withdraw from the treaty, it is not just Iran’s recovery. A signal of a nuclear program, and Iran may develop nuclear weapons.

The international oil price in 208 can be said to have risen first and then declined. The ups and downs should be the beginning of Iran's energy sanctions. With the U.S. sanctions on Iran’s energy, the curtain of oversupply in the crude oil market was officially opened, and oil prices continued to fall along with it.

The first data is about the income of the average American family. Obviously, when the employment situation of the people improves and income increases, it will drive various consumption links, and about 70% of the growth of the US economy can be said to be dominated by internal consumption. So knowing the employment data, you can predict the overall US Consumption situation.

In addition, Europe has another gunpowder keg-Spain. According to foreign media reports, Spanish Prime Minister Rajoy will face a vote of no confidence on Friday. A spokesman for the Spanish government stated that Prime Minister Rajoy does not intend to resign. The current political tensions in Europe are rapidly heating up.

Judging from the above news, today's oil prices are bursting with good news at this stage. The rising trend of oil prices is obvious. Saudi Arabia cuts production to balance supply and demand. The Federal Reserve doves suppress the U.S. dollar index. The two levels of boost have greatly increased the probability that oil prices will exceed $55. .

The EIA released the latest round of crude oil inventory data overnight. However, under the premise that API inventories have increased substantially, the market thought that EIA would also increase simultaneously, further suppressing the decline of crude oil prices. However, the result was unexpected. The latest data from the Information Agency’s EIA showed that US crude oil inventories fell by 404,000 barrels in the week as of May, and the market expeHow the lifting of the ban on U.S. crude oil exports will affect oil pricescted a decline of 70,000 barrels. The American Petroleum Institute API announced earlier that it increased by 4.85 million barrels.