Oil prices recorded losses during Friday trading despite the decline in the US dollar index
2018-05-11 01:19 pm | Resource: NEWS | No Views : 192
Oil prices recorded losses on Friday, despite the decline in the US dollar index, after yesterday's prices reached the highest level in three and a half years, but about to achieve the fifth weekly gain in a row
Oil prices rose 2.2% this week, nearly fifth consecutive weekly gains, among the longest weekly gain since October 2017, after the United States withdrew from Iran's nuclear deal.
Trump announced last Tuesday that he would formally withdraw from the nuclear deal and decided to re-impose economic sanctions on Tehran, and that his country had proven evidence that the Iranian regime was violating the nuclear deal.
The US Energy Information Administration announced on Wednesday that crude inventories fell by 2.2 million barrels for the week ending May 4, the first decline in three weeks, exceeding experts' expectations of a decline of about 0.2 million barrels.
US production has jumped 27 percent since mid-2016, outpacing Saudi Arabia's steady output of around 9.9 million barrels per day, close to Russia's biggest oil producer of around 11 million bpd.
Last week, global oil prices rose 2.7%, their fourth weekly gain in a row, among the longest weekly oil gains this year.
US crude was down 0.18% at $ 71.24 a barrel. US crude opened at $ 71.44 and hit a high of $ 71.62 and a low of $ 71.12.
Brent crude was the highest at $ 77.56 and lowest at $ 77.09, with Brent crude falling 0.21%. To trade at $ 77.28
(CURDE OIL - WTI ) Time frame Used - four hours Oil is moving in a bearish direction in the near term. Oil is still facing resistance and selling pressure around the level of 51.77 to retreat under the pressure of selling down as oil fell in the middle of today's trading to fall nearly from the levels of 50 dollar and also we note that oil is facing the…
- Gold Technical analysis 15 January 2019 11:27 pm2019-01-14
- OIL Technical analysis 14 January 2019 11:35 pm2019-01-13
- Gold Technical analysis 14 January 2019 11:18 pm2019-01-13
- OIL Technical analysis 11 January 2019 12:37 am2019-01-11
- Gold Technical analysis 11 January 2019 12:30 am2019-01-11
- OIL Technical analysis 10 January 2019 12:21 am2019-01-10
- Gold Technical analysis 10 January 2019 12:13 am2019-01-10
- OIL Technical analysis 9 January 2019 12:00 am2019-01-09
- Gold Technical analysis 9 January 2019 11:56 pm2019-01-08
Best trading brokers
- The rise of gasoline contracts supports oil to reach its levels in two months 2017-07-28
- Oil prices maintain their highest level in 8 weeks 2017-07-28
- Oil prices rise ahead of US inventory data 2018-08-28
- Oil falls influenced by the International Energy Agency report 2017-08-14
- Brief Market News 2017-07-12
- Technical analysis and outlook for most currencies - commodities and Shares for 2019 05:20 pm 2019-01-01
- The last part: the difference between correction and reflection and how to trade them? 09:36 am 2018-12-18
- Difference between correction and reversal and how to trade them? 08:04 am 2018-12-17
- Dogecoin .. Electronic currency arose as a result of irony 03:54 pm 2018-01-26
- Currency and commodity analysis for 2018 05:14 pm 2018-01-01