Crude oil prices rise after US inventories rise
2018-09-19 09:56 am | Resource: News | No Views : 82
Maduro: Venezuela doubled oil exports to China
Venezuelan President Nicholas Maduro said China will help the country's economic recovery at a press conference on Tuesday. After visiting Beijing, Maduro said Venezuela would raise its oil exports to China to 1 million barrels per day, adding that he was supposed to sign the deal with China National Petroleum Corporation (CNPC) President Wang Dongjin on the same day.
Maduro announced that the Chinese government will finance the development of the country's oil industry to help increase production.
Oil prices have risen in recent months as investors expect pressure from US sanctions against Iran. The sanctions, which are expected to take effect on November 4, have already caused a drop in Iranian oil exports.
Investors are also looking for weekly crude oil inventories from the Energy Information Administration, which is due to be released later in the session.
Crude Oil Trading
- Crude oil futures for November fell 0.01% to $ 69.58 a barrel as of 09:09 GMT
- . Meanwhile, Brent crude, the benchmark for oil prices outside the US, fell 0.18% to $ 78.89 but still close to a four-year high.
- In other energy trading, gasoline futures rose 0.07% to $ 2.0070 per gallon.
- While heating oil fell 0.11% to $ 2.2333 per gallon.
- Natural gas futures fell 0.10% to $ 2.930 per million British thermal units.
Time frame Used - four hours Oil is moving in a sideway direction in the near term. Oil is still facing resistance and selling pressure around levels of 52.66 - 54.54. In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators. Therefore, we expect that the oil will test the level of 50.00 dollar, which by breaking it down will target the…
- Gold Technical analysis 13 December 2018 12:38 am2018-12-13
- OIL Technical analysis 12 December 2018 12:18 am2018-12-12
- Gold Technical analysis 12 December 2018 12:16 am2018-12-12
- OIL Technical analysis 11 December 2018 05:33 am2018-12-11
- Gold Technical analysis 11 December 2018 05:30 am2018-12-11
- OIL Technical analysis 10 December 2018 08:50 pm2018-12-09
- Gold Technical analysis 10 December 2018 08:48 pm2018-12-09
- OIL Technical analysis 5 December 2018 11:20 pm2018-12-04
- Gold Technical analysis 5 December 2018 11:18 pm2018-12-04
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
- Rising Of Oils Prices and Falling Of Gold Prices 2017-07-03
- 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