Crude oil prices today

Crude oil prices today

This is the second round of sanctions announced by the United States on Iran within a week. US President Trump announced on the 8th of this month that the United States would withdraw from the Iran nuclear agreement and restart sanctions against Iran that were exempted from the Iran nucleaCrude oil prices todayr agreement. The U.S. Treasury Department announced on the 0th that the U.S. imposed sanctions on six Iranians and domestic entities, freezing their assets in the United States, and prohibiting U.S. citizens from conducting transactions with them.

The trend of the renewal stage can be divided into two situations: one is trending, the other is not trending. Trending refers to the situation where oneself has gone out of its own independent trend on the same day; while no trend refers to the situation where there is no independent trend on the day. Happening.

After the crude oil price surged above 69 U.S. dollars last Friday, the market returned to below 69 U.S. dollars shortly after the opening on Monday, and there was almost no upward trend in the intraday trend. It fell below 68 U.S. dollars during the intraday session, and finally only stabilized in the 68-69 range. Among them, at that time, many people believed that this was likely to be an adjustment to the market after the surge, and some institutions speculated that this was the beginning of the impact of OPEC's increase in production, and even began to be not optimistic about the follow-up crude oil trend this week.

This week’s two crude oil inventory data have received good news one after another. The data has been reduced by more than 9 million barrels. Coupled with the upcoming stronger sanctions on Iran by the United States, the price of crude oil has soared. On Tuesday, the market soared from US$68 to US$7. , Wednesday, the market set a new high to 7 US dollars, and on Thursday, it was good for further fermentation, and the oil price reached a new high of 70 US dollars. In just a few days, crude oil prices recovered all the declines since the end of May, and with these three rounds With a strong rise in the market, there is currently little negative in the oil market that can limit the rise of crude oil. I am afraid that in the next July, crude oil will further enter the $80 mark.

However, there has been news recently that Sinopec will resume imports of US oil at a critical moment when the trade war is further escalating. On August 24, according to sources quoted by Reuters, Sinopec's United Petrochemical Company will resume buying US crude oil in October. But just last week, the United States also imposed a 25% tariff on goods worth $6 billion.

Several experts, including Savi, an expert at the Russian Geopolitical Analysis Center, said that the US sanctCrude oil prices todayions on Iran have and will continue to cause Iran’s currency to depreciate, increase inflation, and may lead to social and political crises, but these measures will not allow Iran to yield. Iran had already endured sanctions for many years before the signing of the Iran nuclear agreement, and Iran is recently seeking to establish new alliances with many countries in order to circumvent US sanctions. In addition, although the US sanctions will have a negative impact on the approval rate of the current Iranian government, the current Iranian government is considered to have always supported reformists and actively engages in dialogue with the West. The US sanctions will most likely be replaced by conservatives in the future. The result is exactly the opposite of the US strategic goal.

The OPEC monthly report showed that crude oil production increased in May. Foreign media reported that Russia intends to increase crude oil production in July. Does this scenario indicate that the crude oil market will start to increase production? Spot crude oil prices may usher in a long-term collapse?