Ban us crude oil

Ban us crude oil

Generally speaking, an increase in official selling prices will often cause consumers to buy crude oil from the spot market at a lower price to compensate for future price increases. However, as the demand from Asian rBan us crude oilefiners has risen and the output of certain grades of crude oil has declined since last month, the prices of these crude oils have remained high or even increased to a certain extent.

Today, on June 26, international oil prices rose slightly. As of press time, Bursa oil rose more than 0.5%, approaching the 75 mark, at 798 US dollars per barrel, while U.S. oil rose 0.46% to 69 US dollars per barrel. Some analysts predict that according to the recent international situation, international oil prices will soon rise to 80 US dollars and return to their peak.

The US Information Agency said that oil inventories climbed to 2.2 million barrels per day, hitting a record high. The increase in US oil will offset the impact of the cancellation of the exemption for Iranian oil importers, thereby further smoothing the risk of shortages in the oil market.

In addition, it is worth noting that the premium between Brent oil prices and WTI oil prices reached more than US$ per barrel, the highest level since the month of 205. In less than a month, the price difference between the two has doubled.

US WTI crude oil June futures closed up $0, or 45%, on Monday, May 7, to $70.7 per barrel. July Brent crude oil futures closed up the dollar on Monday, or 74%, to $77 a barrel. The U.S. WTI crude oil futures price hit a high of 70.84 US dollars per barrel, and the Brent crude oil futures price hit a high of 74 US dollars per barrel.

A few days ago, Trump formally announced his withdrawal from the Iran nuclear agreement and the imposition of sanBan us crude oilctions on Iran. This means that Iran may face a substantial reduction in crude oil production in the future. It is estimated that this move may increase global oil supply before the end of this year. A reduction of up to 0 million barrels can be said to be a huge benefit for crude oil prices, because the decline in crude oil supply means a relative increase in demand, thereby helping to increase oil prices. This is also why after Trump announced the result, crude oil prices broke through the 70 mark in just one day, and may even move further towards the 80 mark.

On April 24, Saudi Energy Minister Falih stated that there is no need to increase oil production immediately after the United States terminates sanctions on Iranian crude oil buyers, but added that if customer demand increases, Saudi Arabia will respond.

Li Yan, an oil product analyst at Longzhong Information, said that although international crude oil prices continued to rise during this cycle, the average international oil price linked to it is still difficult to exceed $40 per barrel, so there is a high probability that the protection mechanism will be triggered this time without adjustment.

With the midterm elections approaching, in order to win the support of voters and crack down on high oil prices, the US government is bound to make some responses. Barclays believes that Trump will agree to more countries abandon secondary sanctions on Iran, that is, allow them to continue to import Iranian oil. The report mentioned that the bank expects the White House to release a list of important relief and exempt countries before the sanctions deadline on the 4th, which may include India, Japan and South Korea. Reuters reported on Friday that industry sources said India would buy 9 million barrels of Iranian crude oil in a month.