West Texas crude oil trend chart

West Texas crude oil trend chart
By Crude oil trend

West Texas crude oil trend chart

In addition, OPEC stated in its latest monthly report that monthly crude oil inventories in developed economies worldwide have fallen to around 9 million barrels from the 5-year average, and there is a gap of 400 million barrels from the 5-year avWest Texas crude oil trend charterage in 207.

On the other hand, Iran in the Middle East encountered the crisis of the US unilateral withdrawal agreement. The US threatened to impose the most severe economic sanctions on it. Although the European Union continued to purchase Iranian oil in euros and was free from sanctions for European companies, The largest buyers of Iranian oil, some Asian countries, such as India, are bound to reduce their dependence on oil imports due to concerns about the US imposing oil tariffs and pricing methods.

The future supply of crude oil may also face the threat of a single country's supply flash collapse. Since the end of 207, Venezuela's oil production has been reduced by at least 500,000 barrels per day. It has been a long time since the country has been unable to deliver the scheduled oil due to hyperinflation and obsolete equipment.

Spot crude oil market review: We do not evaluate whether OPEC’s production cut can be truly completed, because no one knows whether it can be completed. It does not make any sense to say this. We only need to understand that low oil prices are for OPEC’s major oil-producing countries. There is no benefit. This wave of correction is expected. We all know that the reason why this wave of rally will be so fast is partly due to short covering. With the profit of the longs out, the strength of the shorts will be strong. 542 is the high point of the standard top-to-bottom conversion. I think the low point of the top-to-bottom conversion is at the 4th line. 4 is the high point of the top-bottom transition of the first wave of the uptrend. The previous value of API data yesterday was -77, the expected value was -2, and the published value was -220. After the data was released, U.S. Oil returned to the 5th line and continued to fall, proving the strength of the bears. As for the situation that the position of 50.0 is not broken after repeated trials, the author personally believes that the API data is expected to be bullish and there is not enough time. Unless there is a sharp drop, there is no API data support yesterday, and it will break 50.0 last night. Tonight: 0 EIA data will be announced, the previous value is -84, the expected -02, the expected bullish. Spot crude oil market analysis: The low point of this wave is expected to appear at around 5 o'clock. At the opening of the European market, there will be a small rise, return to the 50.8 line, and then enter the downside, whether it is time to change space, sideways, Or go straight down and return to the 50.0 line. First choose an empty order. If the US market cannot break 50.0 within hours after the opening, then there is no need to wait.

In most cases, the market is basically in a state of valueless volatility. If we pay attention to any situation, we will not only be very tired and tired, but also lose our sensitivity to market changes.

According to data released by the United States, the US crude oil API inventory fell sharply by 8.64 million barrels last week. At the same time, the crude oil distribution center Cushing's inventory level also recorded a decline, which made the market moWest Texas crude oil trend chartre worried about the sufficient degree of oil supply in the US market, and oil prices further increased. .

The United States imposed a second round of sanctions on Iran on May 5th, and the sanctions included Iran's energy, banking and other fields. In addition, the United States did not rush to kill, and issued exemption lists for eight countries or regions, including the mainland, Taiwan, India, Greece, Japan, Turkey, Italy, and South Korea. However, this did not have much effect on US-Iran relations.

The keystone XL oil pipeline project is 79 miles from the total plant, from Alberta, Canada to Las Vegas, USA. The project was first proposed in 2008, but in 205 it was rejected by Obama because of some controversial provisions in the project. However, Trump resumed the construction of this pipeline two days after taking office.

In early Tuesday trading, the market’s risk aversion sentiment rose sharply. Analysts pointed out that worries surrounding the Sino-US trade situation have become a key factor driving the market. According to Sina’s latest report, US President Trump has instructed the US Trade Representative to determine US$200 billion of goods that are prepared to impose 0% tariffs. Trump said that if he refuses to change his approach, the tariffs will take effect; the proposed tariffs are a response to the US$50 billion tax levied on US goods announced last Friday in response to the US tariff plan. Trump threatened that the United States would impose further tariffs if tariffs were imposed again.

In his opinion, this has attracted many hedge funds to bet on the rise of the dollar. The reason for this is that as the soaring oil price has led to the continuous rise of US inflation, the Fed is likely to turn to speed up the pace of interest rate hikes, leading to further expansion of the advantage of the US dollar spread in the short term.

With the gradual approach of the British referendum this week, the two major camps of Brexit and staying in Europe have crossed the lead. Since the staying camp took advantage this week, this advantage has narrowed on Tuesday. The final result of the referenWest Texas crude oil trend chartdum is still very different. Certainty, investors are quite cautious.