According to Reuters, Reliance Industries, managed by India’s richest man Mukesh Ambani, has decided last month to stop importing oil from Iran. Analysts said that even if the supply cut by half will not have a huge impact on the market, oil prices still face upward West Texas crude oil trend chartpressure. The stock prices of India’s three state-owned oil companies fell by 6%-8% because many investors fear that high oil prices will eventually be passed on to consumers, which is extremely challenging for oil companies.
Platts Energy said that this election will be a short-term risk, because after the victory over the Islamic State at the end of last year, Iraq is promoting the recovery of oil, refining and civil infrastructure, which may delay the signing of oil contracts.
At the beginning of the European market on Thursday, August 6, international oil prices rose sharply, regaining all the intraday declines and turned into a rise. Among them, the US oil station reached 46 US dollars, and the current highest is 409 US dollars per barrel, the same as the high since July 2. Due to the sharp drop in the US dollar index, crude oil bulls have a counterattack opportunity.
After the OPEC meeting ended, oil prices in the world's two most important oil markets performed very differently. After the OPEC agreement triggered a jump in oil prices last Friday, Brent crude oil fell due to Saudi Arabia’s commitment to increase production, and the shrinking inventory provided support for US oil.
The content of the IEA’s monthly report is still very optimistic about the future crude oil prospects. Although crude oil production continues to rise, the demand for crude oil will also increase in the future. In particular, the crude oil production of some countries in the Middle East may further decline. Crude oil prices are undoubtedly great news.
Crude oil investment has a more flexWest Texas crude oil trend chartible T+0 two-way trading model, which is convenient for grasping market conditions and avoiding risks at any time, and has strong operational flexibility; there is a very high capital utilization rate. Crude oil investment uses margin trading, which greatly improves the utilization rate of capital .
According to statistics, by the end of 209, pipeline capacity in the Permian area will increase by 2.45 million barrels per day. By mid-2020, there will be an additional capacity of 0 million barrels per day. This is good news for local producers and means that their losses will be reduced. The only unexpected situation they worry about is that the oil price plummeted for some reason and the project was shelved, but at present there is no such bad omen.
In addition, the U.S. Energy Agency (EIA) data released in the evening. The market expects that US crude oil inventories will decrease by 720,000 barrels. If it is in line with expectations, international oil prices may rise to US$5 and approach US$52 this evening. The expansion of international oil prices will inevitably increase on the 4th. Probability of increased refined oil products.
Jahangiri said that while the United States was putting pressure on Iran, it was also launching an economic war against its allies, including European countries. The Iranian Ministry of Foreign Affairs and the Central Bank of Iran will take action to protect Iranian banking business, but he did not specify specific measures.