Crude oil spot price chart

Crude oil spot price chart
By Crude oil trend

Crude oil spot price chart

For friends wiCrude oil spot price chartth spot crude oil sets, if the set is relatively light, or the position is relatively light, it is recommended to cut a small loss directly, and if the position is relatively heavy, it is recommended to add gold to protect the position. Because from the perspective of various news, oil prices are at risk of continuing to decline. However, there is still the possibility of a rebound in the market outlook, and the author expects that the possibility of oil prices falling below the $40 mark is low.

Over the past ten years, crude oil imports have continued to climb, and the growth rate has accelerated significantly in recent years. It took 6 years for the average monthly crude oil imports to range from 20 million tons to 10 million tons. At the current growth rate, it will exceed 40 million in the future. Ton level or only 4 years. In other words, this goal is likely to be achieved next year. Li Yan, a crude oil analyst at Longzhong Information, told a reporter from Shanghai Securities News.

In addition, according to Clipperdata data, a very large tanker containing 2 million barrels of Sahara crude oil departed from Algeria on June 5, 208 and sailed to India. If the delivery of this oil is successful, it will be the first crude oil transaction in the history of the two countries.

It is worth mentioning that with the gradual consumption of the proven oil reserves of non-OPEC countries, they may encounter supply interruptions after 2020. At this time, they can only invest in expansion or exploration to obtain more oil. But OPEC, led by Saudi Arabia, has the ability to accumulate, and their oil supply will be quite stable.

Innes added: Even if this is not the case for the rest of 208, at least until the deadline for the Iran nuclear agreement on May 2. Venezuelan President Maduro said on the 5th that Venezuela is not afraid of external forces sabotaging Venezuela's upcoming presidential election, saying that the results of the election only need to be recognized by the people.

In other regions, the oversupply and demand of U.S. crude oil and natural gas has suppressed the benchmark price of U.S. crude oil, and the discount of U.S. crude oil has suppressed the discount of similar imported crude oil such as Iraq and Saudi Arabia. The price of U.S. crude oil is in the global valley, and the operating rate of U.S. refining and chemical enterprises remains high; Tax reduction and trade protection measures promote the development of the industry. Crude oil spot price chartThe US corporate tax rate was reduced from 5% to 2%. Three independent refiners including Marathon Petroleum Company, Phillips 66 Company, and Valero Energy Company announced that they would increase investment in refineries in 208 to improve oil quality and energy refining.

First of all, in terms of crude oil inventory, both API inventory and EIA inventory increased again this week. At the same time, US crude oil exports increased by 520,000 barrels per day to 20,000 barrels per day last week, a record high. US crude oil imports increased by 590,000 barrels per day to 8.49 million barrels per day last week. Last week, domestic crude oil production in the United States increased by 60,000 barrels to 0.56 million barrels per day, recording an increase for 9 consecutive weeks. Among them, the U.S. Permian Basin's crude oil production in May is expected to reach 80,000 barrels per day, reaching the highest level since the EIA began to collect local data in 2007.

Jinlianchuang refined oil analysts said that the retail and wholesale prices of refined oil increased in July, and the overall increase in wholesale prices was even greater, which narrowed the wholesale and retail prices. In August, the wholesale and retail prices of refined oil products are expected to continue to rise, and the wholesale price will still be greater than the retail price, so the wholesale and retail prices will continue to narrow this month.

On Tuesday, April 7th, the American Petroleum Institute API announced that as of the week of April, US crude oil inventories fell by 0 million barrels to 2.8 billion barrels. Official data from the EIA of the US Energy Information Association will be released on Wednesday. In addition to U.S. factors, the oil market has been supported by the belief that there is a high risk of supply disruption. Such risks include the possible expansion of the Middle East conflict, the U.S. sanctions on Iran again, and Venezuela’s reduced oil production due to the political and economic crisis.