Bakken Clearbrook Mn crude oil spot price

Bakken Clearbrook Mn crude oil spot price

Analysts said that if Trump withdraws from the Iran nuclear agreement this week, oil prices may soar, which is driven by geopolitical risks and uncertainties. But as traders digest the terms of exports and the rate of decline in Iranian oil exports, oil prices may fall again. He also pointed out that traders have recently set a record for the number of bullish bets that oil priceBakken Clearbrook Mn crude oil spot prices will continue to rise. This makes the market vulnerable to sharp sell-offs, which drives down oil prices.

However, it is currently in the mining cycle. With reference to historical conditions, the expectation that OPEC will increase production may have a psychological impact on oil prices throughout June. However, according to the previous largest impact on oil prices by news of production increases, except for the Asian financial crisis in 997, 0% is basically the largest adjustment. From this perspective, the impact of this increase in production news may have been reached in terms of magnitude.

The turmoil in the Middle East caused by the US withdrawal from the group will inevitably affect the future of crude oil. If Iran withdraws from the Iran nuclear agreement in the future, the crude oil market may undergo further changes. It is understood that Iran is OPEC's third largest oil producer and the world's fifth largest oil producer. Iran is currently a participant in the OPEC+ crude oil production restriction agreement but it has immunity. At present, Iran’s crude oil production is about 80,000 barrels per day, and the export volume is about 2.2 million barrels per day. Iran’s April oil exports hit the highest level since sanctions were lifted two years ago. Ship tracking data shows that Iran’s daily oil exports rose from 2.06 million barrels in the month to 2.48 million barrels in April.

The U.S. dollar index remained on the defensive. The previously announced final value of US GDP and the initial data were not as good as expected. The performance of the former was contrary to the recent remarks of US President Trump and Treasury Secretary Mnuchin. In recent days, as the dollar’s ​​gains have stagnated, calls to short the dollar have gradually sounded.

U.S. oil fluctuated within a narrow range on Friday, June 8, with intraday fluctuations of only 28 points. Affected by the force majeure of Venezuela’s announcement of crude oil exports earlier, oil prices rebounded and hit a recent high of US$69. US oil is currently trading at US$608, with intraday highs and lows at US$69 and US$69.

At the end of 208, Qatar announced that it would withdraw from the OPEC organization in 209. The blink of an eye has reached the time when Qatar’s withdrawal decision takes effect. OPEC said that Qatar’s decision was final. Qatar Bakken Clearbrook Mn crude oil spot priceaccounts for 0.6% of the global oil market. It has been 57 years since it joined OPEC. Why did it suddenly withdraw from the group?

On Thursday, May, at 4:0 Beijing time, the US API crude oil inventory was announced. The previous value decreased by 0 million barrels, the previous value of gasoline inventories increased by 980,000 barrels, and the previous value of refined oil inventories decreased by 0 million barrels. Crude oil inventories in the United States With the continued increase in the prospect of suppressing international oil prices, the performance of API inventory data will directly affect the future trend of oil prices. If the inventory decreases, it will be good for oil prices. Crude oil prices are expected to bottom out at $66, and the opposite is true.