country flagالعربية
0

Oil in the direction of the second week rallied on the rise

2019-01-11 11:32 am | Resource: News | No Views : 124

 
Oil prices rose on Friday. Both Brent and WTI are still on track to achieve their second week of gains. , Reflecting optimism that the United States and China could reach a reasonable trade deal before the March 2 deadline. After gaining yesterday gains for the ninth consecutive session in the longest series of gains in nearly 9 years.

Prices are still supported by the hope that a comprehensive trade war between Washington and Beijing could be avoided.

The three days of US-China talks are aimed at ending a costly tariff battle that covered Wednesday in an upbeat atmosphere. China's Ministry of Commerce said the two sides had held a "thorough, thorough and detailed exchange" on trade issues, including structural issues. Factors. Other negotiations are likely to continue this month.

On the supply front, production cuts approved by OPEC and its allies are on track to balance world oil markets in the first half of 2019.

Traders are waiting for the Baker Hughes report to be released on Friday, showing the number of platforms operating in the US and Canada during the week

Markets are eyeing the results of the Organization of the Petroleum Exporting Countries (OPEC) and its allies' plan to cut supply surpluses as OPEC-led crude production cuts have boosted supplies. Nymex is heading for a weekly gain of 9.5% and Brent crude is up 7.8%.

Oil contracts
  • Brent crude rose 0.6 percent to $ 62.05 a barrel.
  • While the WTI crude futures rose 0.8 percent to 53.01 dollars a barrel
 


Other analysis

Best Opportunities, Vision and Technical Analysis for The Oil 22 March 2019

  (CURDE OIL - WTI ) Time frame Used - four hours Oil is moving in a bullish direction in the near term. Oil continues to gain further after breaking the resistance level around 57.87 higher as the bulls managed to push oil to the level of 60.26. In view of the technical indicators Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought…

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.