U.S. crude oil off the target list

U.S. crude oil off the target list
By Crude oil trend

U.S. crude oil off the target list

Once losses occur, they are often relucU.S. crude oil off the target listtant to stop the loss and take up positions. This kind of thing happens too much. In fact, once you find that the direction of the market does not match the direction of your entry, it proves that your analysis is wrong, and you should immediately admit your mistakes instead of letting them continue. Don't be lucky.

However, in addition to the Iranian nuclear issue in the Middle East, there are many geopolitical factors that will also appear in the follow-up. For example, Venezuela is collapsing, and the extent to which domestic crude oil production will fall is unclear. At the same time, Venezuela's general election next month may incur new sanctions. Even without sanctions, domestic production will continue to decline at a rate of several thousand barrels per day. In addition, Syria and Yemen have made the situation in the Middle East more complicated and made the supply of crude oil more vulnerable.

Some investors are very sloppy. When they don’t know a certain product, they just buy rashly because they see recommendations or persuasion from relatives and friends and unconfirmed inside information. At this time, their mentality is often affected by price fluctuations. The impact is fluctuating, and a slight change will feel fear. Therefore, knowing as much as possible about the situation of the selected species and carefully preparing for the operation is an effective way to overcome fear.

OPEC's latest monthly report shows that OPEC crude oil production in May increased by 540,000 barrels per day to 890,000 barrels per day. According to second-hand sources, Saudi Arabia’s May crude oil production increased by 10,000 barrels/day to 0 million barrels/day; Iraq’s May crude oil production increased by 770,000 barrels/day to 4.45 million barrels/day; at the same time, Iran’s May crude oil production increased by 0.56. 10,000 barrels/day to 890,000 barrels/day. At the same time, data reported by Venezuela showed that May output has increased since a long-term low, with a month-on-month increase of 80,000 barrels/day to 50,000 barrels/day.

As of 8:4 Beijing time, spot crude oil prices rose slightly by US$0.28, and oil prices rose by 0.4% to US$6 per barrel. As shown in the figure, crude oil prices fluctuated sharply above US$67, but did not fall below this key support. This may indicate that crude oil prices can continue to rise in the future?

On thU.S. crude oil off the target liste 20th, the US Treasury Department announced that because a Russian oil company helped two Syrian oil companies import oil from Iran, it had imposed sanctions on nine individuals and companies in Russia and Iran. This is the first time the United States has punished Russia in more than a month.

While the positive effects of the United States’ reopening of Iran’s nuclear sanctions have not disappeared, Venezuela reappeared in the sanctions crisis this week, intensifying market concerns about crude oil supply, and analysts predict that US crude oil inventories will fall for the third consecutive week in four weeks. Multiple positives supported the continued rise in oil prices this week and continued to brush phased highs.

U.S. Treasury Secretary Mnuchin said that the most senior officials of the Iranian Central Bank helped transfer tens of millions of dollars from the Iranian Islamic Revolutionary Guards to the Lebanese Hezbollah. They became the conspiracy of the Iranian Revolutionary Guards to finance terrorist organizations. It is scary but not surprising. The Ministry of Finance decided to take action to curb Iran’s ability to abuse the US and regional financial systems.