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
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…
- Gold Technical analysis 18 August 2018 10:49 pm2018-08-19
- OIL Technical analysis 17 August 2018 11:18 pm2018-08-16
- Gold Technical analysis 17 August 2018 11:16 pm2018-08-16
- OIL Technical analysis 16 August 2018 11:08 pm2018-08-15
- Gold Technical analysis 16 August 2018 11:06 pm2018-08-15
- OIL Technical analysis 15 August 2018 11:08 pm2018-08-14
- Gold Technical analysis 15 August 2018 11:06 pm2018-08-14
- OIL Technical analysis 14 August 2018 11:15 pm2018-08-13
- Gold Technical analysis 14 August 2018 11:13 pm2018-08-13
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
- Brief Market News 2017-07-12
- Oil falls influenced by the International Energy Agency report 2017-08-14
- "China National Petroleum": China's energy demand will peak in 2040 2017-08-16
- 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
- Bitcoin forces Santa Claus to distribute the worst gifts to its investors on Christmas 10:04 am 2017-12-25
- Forex 09:26 am 2017-12-25
- OmiseGo .. Time for electronic financial exchanges 02:07 pm 2017-11-15