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Oil rose to offset some losses after falling 4 percent yesterday

2019-06-13 07:56 am | Resource: News | No Views : 49

Oil rose to offset some losses after falling 4 percent yesterday

 Crude oil prices reversed some of the losses on Thursday, trading in the green zone after falling 4% during the previous session on the back of the reported rise in US crude inventories. Investment incentives in the oil market fell sharply on Wednesday after the US Energy Information Administration (EIA) said its country's oil stockpiles rose unexpectedly by 2.2 million barrels last week.

However, market watchers have regained some confidence in the oil market amid hopes that the Organization of Petroleum Exporting Countries (OPEC) and other major oil producers will extend the cut production agreement in their ongoing efforts to stabilize crude oil markets.

Iranian media: attack on two tankers in the Sea of ​​Oman

  Two large oil tankers were attacked in the Sea of ​​Oman, a passage for tankers linking the Persian Gulf to the Indian Ocean, Iranian media reported on Thursday. According to reports, two successive explosions were heard, while some sources identified attacks on oil tankers as the cause of the explosions.

At the same time, the Maritime Safety Group of the United Kingdom - the Royal Institute of Marine Engineers - warned of an incident in the Sea of ​​Oman and urged "extreme caution".

The reported incident came a month after "sabotage" involving oil tankers at the port of Fujairah in the United Arab Emirates, which Saudi Arabia and the United States blamed on Iran. In the wake of the accident, the Lloyd of London insurance market said Oman, part of the Gulf of Oman and the United Arab Emirates, as well as the Persian Gulf itself, had been added to its list of areas with "enhanced risks to marine insurance companies." "

High oil trading
  • The WTI rose for delivery in July by 0.70%, trading hands at $ 51.45 a barrel at 8:09 am CET.
  • While Brent crude traded in August above $ 60 a barrel, adding 1.17% to trade at $ 60.66 a barrel at 08:08 CET.

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Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

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