Oil has fallen in supply and Iran sanctions have declined
2018-11-07 08:06 am | Resource: News | No Views : 130
Oil prices fell on Wednesday, continuing to fall since October after expectations of the US Petroleum Institute's report showed that US crude stocks were larger than expected. Eight countries were temporarily exempt from US sanctions on Iranian oil.
US crude inventories expanded 7.83 million barrels last week, the largest build in five weeks, compared to an average of 2 million barrels in the Bloomberg survey, the US Petroleum Agency said. The US government expects to increase domestic crude production at the highest annual pace ever, with the Energy Information Administration reporting average production of 10.9 million barrels per day this year, up from 9.35 million in 2017.
Washington re-imposed sanctions on Iranian oil exports on Monday, but granted exemptions to its largest customers, allowing it to limit imports in 180 days. Where it granted exemptions to eight importers, including China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey, to allow them to continue buying from the Islamic Republic "temporarily".
The mid-term elections in the United States took center stage in Asia, where several networks, including Fox, NBC, CNN and Fentheon-It said that the Democrats won the House and split Congress as expected.
Republicans were expected to retain a majority in the Senate.
The official reading - which investors are watching closely - is expected to be released Wednesday by the US Energy Information Administration.
(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