Crude oil trend price

Crude oil trend price

It is worth noting that some countries participating in production cuts have idle capacity, while others have not. In other words, if oil prices fall, only Russia and the Arab countries in the Gulf region will be the beneficiaries. Analysts predict that the OPEC meeting in June will be full of gunpowder. It may be difficult for Russia and Saudi Arabia to persuade all countries to focus on long-term marCrude oil trend priceket stability.

On Monday, crude oil prices fell to nearly 67 US dollars, but as the Iranian nuclear issue may usher in an outbreak in May, causing market concerns, crude oil prices rebounded sharply and hit 69 US dollars. On Tuesday morning, it broke through 69 US dollars. After the European market, the market's gains have been significantly weakened, and the current oil price has returned to below 69 US dollars.

Both WTI crude oil and Brent crude oil are base crude oils that reflect trends in the international crude oil market. Because of their similar oil quality, their pricing should be relatively close. However, historically, the price difference between the two has experienced large fluctuations. After the US lifted the oil embargo, the volatility of the Brent-WTI spread has decreased. The overall spread has averaged around US$2, but it has risen to US$0, a new high since 205. This phenomenon is worthy of attention.

According to EIA data, as of June 9, US crude oil inventories have increased for eight consecutive weeks to 4.2 billion barrels, the largest increase since February last year. Data show that crude oil inventories in Cushing, Oklahoma increased by 70,000 barrels last week, recording an increase for eight consecutive weeks. Last week, domestic crude oil production in the United States increased by 0 million barrels to 700,000 barrels per day, a continuous weekly increase.

Indexes are different from individual stocks. The severely oversold signals of an index are often more reliable than individual stocks. But to observe whether the market is oversold or not, you cannot use ordinary common market indicators, personal guidance, two Yiyilu and no Lingyi Uncle Lulu. It is important to refer to the index-specific market indicators, mainly STIX, overbought and oversold OBOS, change ratio ADR, and volatility index ADL.

Since the signing of the 206 production reduction agreement, oil prices have risen sharply. With the signing of the production reduction agreement in February 206, oil prices rose from around US$45, and then touched around US$55, an increase of nearly 0%. This is also the first time that OPEC member states have reached an agreement to reduce productionCrude oil trend price since 2008, and the agreement is initially valid for six months.

In Europe, political and business circles in many countries are also paying close attention to changes in the situation and are beginning to take action. Swiss government spokesman Mein Fisch said that the resumption of sanctions against Iran by the United States may affect Swiss companies doing business with Iran, but Switzerland intends to safeguard its economic interests.

Therefore, the best thing to do is to continue the downward movement after the anti-drawing to $45. There will definitely be support near $46 below. However, this support is not recommended to buy more or dare to buy more under the suppression of the daily large Yin. If the U.S. market is still at this support, it will not be too late to rebound.