The much-anticipated Iran nuclear agreement was finally ruthlessly torn up by Trump in the early hours of thiLight crude oil spot prices Wednesday morning. After the US President launched the TPP and the Paris Agreement, the two groups finally launched the Iran nuclear agreement. The price trend is also very dramatic. The oil price first plunged in a straight line, and then immediately rebounded to recover the lost ground, forming a perfect V shape. After the impact of such an event, the crude oil price finally barely closed near the 70 line. At the opening of the market on Wednesday, the rise in crude oil began to appear completely. The price of crude oil in early trading is almost approaching the previous high of 70.76. It is expected that there will be further room for the market to rise later.
Everyone has the psychology of greed and fear. Greed can make people irrational, and fear affects people’s judgment. To gain a foothold in the crude oil market, you must overcome this psychology and possess extraordinary courage and firm will. Loss is to make a deal decisively, do not hesitate and do not have a fluke mentality.
Currie pointed out that the current market shortage is at the level of 0 million barrels per day, and this shortcoming needs to be filled to avoid a depression. He said that there is a price to pay in this matter, either choose higher oil prices or provide more supply; OPEC is currently the only organization capable of adjusting reserves. If adjustments are not made, then there may be a depression. .
The United States has restarted sanctions on Iran. As an oil exporter, Iran should have been very worried, but it seems that Iran is still calm. On February 2, when Iran learned that the United States had announced the resumption of sanctions, the spokesperson of the Iranian Ministry of Foreign Affairs said that Iran was not worried about the new sanctions imposed by the United States. The spokesperson of the Iranian Ministry of Foreign Affairs believes that the United States will not be able to truly implement sanctions against Iran, and that under the sanctions of the United States, Iran has the ability to manage economic affairs well.
We will consider granting exemptions under appropriate circumstances, but we hope that the quantity of Iranian crude oil purchased by each country will be zero, otherwise sanctions will be imposed. So we will study with India, and we promise to do that. Pompeo said. He said that in many countries, it may take some time to dissolve trade with Iran, such as India. The United States will cooperate with them, and I believe that reasonable results will be found. Pompeo also said that if US oil is used instead of Iranian oil, the US will be happy.
This means that the recent wave of unwLight crude oil spot priceilling production cuts that have plagued the crude oil market will continue. It also means that even if countries such as Saudi Arabia and Russia accelerate production, the supply gap will still be difficult to fill in time. Therefore, oil prices are still expected to be supported to a considerable extent.
In the early trading on Thursday, June 2, crude oil futures fell slightly and fell below 460 yuan/barrel during the session. As of the morning's close, SC809, the main crude oil futures contract of the International Energy Trading Center, closed at 46 yuan per barrel, a decrease of 0.24%, and the trading volume exceeded 280,000 lots.
OPEC Secretary General Barkindu said recently. The global crude oil industry should increase investment in the crude oil industry to adapt to the growing demand for crude oil in the future and avoid supply shortages in the oil market. Barkindu also said that the rate of investment in the crude oil industry in 208 has seen a significant rebound, but it is still insufficient for future crude oil supply and the construction of crude oil industry infrastructure.
Oil prices fell on Friday, continuing the decline after JP Morgan Chase lowered its crude oil price expectations. Earlier, oil prices have softened due to concerns about soaring U.S. output and falling demand. US West Texas Intermediate crude oil futures WTI crude oil futures closed down 0.2 US dollars, at 674 US dollars / barrel. The contract dropped slightly this week, marking the second consecutive decline in the past 5 days.