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Oil is trading sideways after the Fed to cut the US interest rate

2019-08-01 02:18 pm | Resource: News | No Views : 28

Oil is trading sideways after the Fed  to cut the US interest rate

Oil prices broke for five days on Thursday, with the first cut of the Federal Reserve's interest rate over a decade speculating on more aggressive actions, prompting the dollar to rise.

Ruhani: Punishing Zarif is a sign of incompetence

In the context of the Iran-US crisis, Iranian President Hassan Rowhani said on Thursday: "They talk about negotiation every day, but they impose sanctions on our foreign minister," referring to the punitive measures taken by the United States against the chief diplomat of the Islamic Republic Mohammad Jawad. Nice. He added that this work was an offer of political and moral incompetence, in an event in the province of eastern Azerbaijan. Rouhani also described the decision as "childish." President Dickau Hosseini's adviser said it was "another embarrassing defeat for US diplomacy" and claimed that the voice of the minister of foreign affairs was now higher than his voice.

Libya's largest oilfield has been closed for sabotage

On the other hand, the most widely watched crude oil prices recorded their highest level in 15 days on Wednesday and settled near the level, where the Libyan National Oil Company officially approved the suspension of shipments from the port of Zawya since yesterday. Oil from the spark, the largest production facility in the war-torn country, has stopped flowing due to the "new illegal" closure of the valve. The incident, the second of its kind this month, prompted the monopoly to restore force majeure.

The United States remains committed to allowing high-ranking officials subject to sanctions to visit the United Nations in New York. In announcing the imposition of sanctions by the Treasury Department, Foreign Minister Steve Menuchin referred to the "reckless agenda" of the Supreme Leader and said Zarif "is the official spokesman for the regime around the world."

South Korea's oil imports fall 12.9% in July

China's imports of crude oil fell 12.9 percent year-on-year in July to 84.2 million barrels, preliminary data from the Ministry of Commerce, Industry and Energy of South Korea showed on Thursday. The country's national oil company is due to release final data later this month. South Korea's total imports of crude oil fell 12.5 percent year-on-year in June to 85.7 million barrels, according to the National Oil Company of Korea.
 Oil trading
  • New York's WTI futures contract fell 78 cents, or 1.3 percent, to $ 57.80 a barrel
  • Brent crude oil futures lost 64 cents to $ 64.41.

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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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