country flagالعربية
0

Oil prices gain in European trading for a fifth straight day

2018-04-13 09:25 am | Resource: NEWS | No Views : 152



Oil prices posted gains in European trading on Friday, extending for a fifth straight day, and US crude hit its highest level since December 2014, coinciding with rising geopolitical tensions in the Middle East. About Syria, and the potential for production disruption from the Gulf region.

US crude rose by 0.76% to reach $ 67.58 a barrel. US crude opened today at $ 67.17, recording a high of $ 67.63 and a low of $ 66.79.

Brent crude was the most active at $ 72.11, recording a high of $ 72.59 and a low of $ 71.72. Brent crude was up 0.75%.

Global oil prices have gained strong gains this week by more than 8%, amid geopolitical tensions in the Middle East, and heightened concerns about disruption of supplies from the oil-rich Gulf region.

The US Energy Information Administration released earlier this week the US crude inventories report, which showed a surplus of 3.3 million barrels last week on April 6 compared to a deficit of 4.6 million barrels in the previous weekly reading.

 This is in contrast to expectations that the deficit shrank to 0.6 million barrels, with inventories rising to 428.6 million barrels while stocks remain below the average range for this time of year.

It is worth mentioning that US crude helped record a rise in production last week by about 30 thousand barrels per day, the fifth consecutive weekly increase, bringing the total production to 10.43 million barrels per day, the highest level of American production at all.


Other analysis

OIL Technical analysis 19 July 2018

Time frame Used - four hours Oil is moving in a bearish direction in the near term The bears managed to control the movement of oil to break the support level of  67.80 down to reach the support level of  66.67 forming a  positive candlesticks pattern   In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area Accordingly,…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.