For example, Perry said that if the central government of Iraq allows the smooth transportation of oil produced in the northern Kurdish Autonomous Region, the Kurdish Region, the average daily oil supply on the market will increase by 0 million barrels. Crude oil produced in thCrude Oil Market Reporte Kirkuk oil field in northern Iraq was originally transported to the Mediterranean through the reservoir and Turkish pipelines. The reservoir area held a referendum on independence in September last year, and the Iraqi central government suspended this route in order to punish the reservoir area.
Because the United States has taken a tough stance on Iran’s sanctions, implying that it will hardly grant sanctions exemptions to Iranian oil buyers, the interruption of oil supply may be much more serious than many people expected. But Iran has not lost everything. The European Union and the United States have rejected the request of the United States and are trying to help Iran tide over the difficulties.
A successful trader can face uncertainty with ease. He realizes that the future is unknowable, and he must accept the fact that his prediction will happen, not that it will happen.
Recently, changes in the situation in the Middle East have become the main factor leading the price of crude oil. Syria’s war-point fuel prices have skyrocketed, and then the Iranian nuclear issue has become the next focus of the market. At the same time, OPEC’s production cuts and the turmoil in Venezuela are confusing. The situation in the Middle East makes the current crude oil price hovering around $70. However, the Iranian nuclear issue seems to usher in a turning point recently. Trump may not necessarily withdraw from the Iranian nuclear agreement but sign a new Iranian nuclear agreement. This also caused a sharp drop in oil prices the next day, and coupled with the factor of his own inventory, The intraday decline expanded further. So where should the future trend of crude oil go?
Two major risks will immediately push up oil prices substantially. In the past, anti-government groups attacked oil tankers in the Middle East. They also targeted Saudi oil refining equipment. A successful attack in any aspect will trigger oil price turbulence. Hodges
OPEC is considering whether it should increase crude oil production to prevent excessive tightening of the oil market. However, is the relationship between crude oiCrude Oil Market Reportl supply and demand really the same as OPEC imagined? When OPEC is worried that high oil prices will have a negative impact on the market, a major oil price The killer is lurking.
According to Reuters shipping data, the seven chartered tankers transporting oil from Iran during July were all under the NITC, and eight of the nine chartered tankers in June were operated by China. Last month, these tankers carried about 2.8 million barrels of crude oil and condensate, or about 770,000 barrels per day. In June, the shipment was 9.8 million barrels or 660,000 barrels per day.
Since this pricing cycle, international crude oil futures have fluctuated upwards, the rate of change of domestic crude oil has increased in a positive range, and the price limit of refined oil products is expected to rise strongly, which is good for the market. The wholesale price of refined oil products from domestic main sales units and Shandong local refineries showed a strong trend, so this cycle of domestic main units' wholesale and retail prices narrowed.
When the gold-based crude oil futures were born, the world oil market also added a trading currency choice, breaking the dollar monopoly of global oil price rules, and hoping to realize the crude oil pricing power based on Asia and Europe.