country flagالعربية
0

​Oil falls for a second straight day on Wednesday amid a rise in the US dollar index

2018-06-13 01:32 pm | Resource: NEWS | No Views : 87



Oil falls for a second straight day on Wednesday amid a rise in the US dollar index, and attention on the weekly report of the US Energy Agency on commercial crude stocks and production levels in the United States.

The US Petroleum Institute announced last week that the country's trade inventories rose last week by 0.85 million barrels, the second rise in the last three weeks, and the experts' forecasts were down by about 2.7 million barrels.

 Despite the rise in medicine on crude oil by the Asian continent, in addition to the decline of the dollar index strongly, helping to change the price of oil.

On the other hand, we see the rise of drilling excavators operating in the United States during the past week to a record level, which increased the rate of one digger to reach the highest level since March 2015 at 862 backhoe.

US production jumped the previous week by about 30,000 barrels to a total of 10.80 million barrels per day, the highest level of production in the United States at all, and expectations are to increase production to a new record.

It is worth noting that markets are waiting for OPEC and some independent producers to meet in Vienna on June 22 to set production policy.
 
 Where your father may decide to end the global supply reduction program early and raise production levels at its next meeting, due to fears of shrinking oil supplies from Iran and Venezuela because of US sanctions

US crude fell by 0.56% to reach $ 65.99 a barrel. US crude opened today at $ 66.03, recording a high of $ 66.33 and a low of $ 65.53.
 
Brent crude was trading at $ 75.50, recording a high of $ 76.17 and a low of $ 75.27. Brent crude was down 0.25%. To trade at $ 75.69


Other analysis

OIL Technical analysis 20 August 2018

Time frame Used - four hours Oil is moving in a bearish direction in the near term The purchasing power managed to control the movement of oil to push prices to reach the resistance level of 66.30 as oil faces selling pressure on this level   In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators Therefore, we expect that the oil…

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.