Oil prices posted gains during European trade on Tuesday
2018-05-22 11:36 am | Resource: NEWS | No Views : 108
Oil prices posted gains during European trade on Tuesday, bringing US crude to a three-and-a-half year high, posting a second day of gains.
The gains come amid tensions between the United States, Iran on the one hand and Venezuela on the other, where the United States is expected to impose sanctions on both countries, which will adversely affect oil production globally.
Where US Secretary of State Mike Pompeo said the United States would impose the most sanctions on Iran, and stressed that Tehran would struggle to keep its economy alive after the sanctions came into effect.
The United States will also impose economic sanctions on Venezuela, which will undermine the Venezuelan oil supply, Venezuela was pumping about 2.5 million barrels per day early 2016
US crude rose Tuesday by 0.21% to reach $ 72.50 a barrel. US crude opened today at $ 72.62, recording a high of $ 72.78 and a low of $ 72.47.
Brent crude was the most active at $ 79.52, recording a high of $ 79.91 and a low of $ 79.34. Brent crude was up 0.42%. Currently trading at $ 79.55
Oil prices last week, their sixth weekly gain in a row, were among the longest weekly gain since October 2017, amid speculation of a drop in Iranian supply.
Since the beginning of the year, the total number of active oil and gas rigs in the United States has reached 983, up sharply from an average of 876 in 2017 and heading towards the highest average since 2014, when it reached 1,862 diggers. Most of the excavators produce both oil and gas.
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.
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