Oil prices are mixed in performance and outlook on the data of the American Petroleum Institute
2018-02-13 11:39 am | Resource: NEWS | No Views : 99
Oil prices are mixed in performance and attention on the data of the American Petroleum Institute estimates of US oil stocks on Tuesday, where oil prices were showing during European trade Tuesday, where the US crude fell marginally by 0.05% to reach levels of 59.26 dollars per barrel , While Brent crude lost a slight rise of 0.245 to reach 62.37 dollars a barrel. US crude started trading today at 59.35, recording a high of 59.72 and a low of 58.93 dollars.
Oil ended yesterday's trading up 0.6%, the first gain in four days, supporting the rebound from the previous two-month low of $ 58.06 a barrel, and Brent contracts rose 0.2%, following the warnings of the International Energy Agency To the global supply, especially after the increase in supplies in the United States to new record highs, noting that the oil market will not be balanced again near the end of this year, due to additional supplies from the United States.
US crude production rose 1.3 million barrels compared to last year and it will soon exceed Saudi production and may overtake Russia by the end of the year, the agency said in its monthly report. The sharp increase in the growth of US rock oil production could soon bring about a radical change, In politics from major oil producers.
Venezuelan oil production fell to a 30-year low in January, with the exception of the brief 2003 turmoil, as Venezuela's biggest reserves, the largest in the world, continue to show the depth of the economic and political crisis in the country's presidential election. In April.
Time frame Used - four hours Oil is moving in a sideway in the near-term Purchasing power managed to push oil to level of 72.60 where it faces resistance around this level In view of the technical indicators Both the RSI and the Stochastic are pointing to the continued decline of the indicators Therefore, we expect that the oil will test level of 70.33 again The alternative scenario is…
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