After five weeks, Intraday's trade crude fell almost 2.6% on Friday, and US oil fell by 2.7%. Despite the fall, this week is expected two weeks ahead. After shutting down on Wednesday, raw petroleum has only changed the bull market for just one month in just one market for more than a month. update
On the last trading day of the week, the future of international crude oil can be marketed nine times, but two weeks after the official transfer to the bull market is forecast.
On the 11th of the US, US stock markets began trading at the beginning. Brent crude oil dropped 60.10 dollars / day less than the day before, a day-on-year drop of 2.6%. Restriction reduced by less than 2% from the given day. European sessions on Friday reached $ 62.49 in the intraday morning, oil grew by 1.3%.
At the same time, in the United States stocks, the future of WTI crude oil also closed at a low level, dropping to 51.20 dollars / bar, which fell by 2.7% a day. The decline was also reduced when publishing. With an increase of more than $ 53.30 on an upgrade intraday high, US oil prices rose by around 1.4%.
Wall Street warned that international oil prices do not have any new supplies and demand. It can be a rise in the dollar. US sales were marketed at the beginning of the dollar. The US dollar rate stood at 95.70 and dropped by more than 0.35%.
Wall Street said Thursday that international oil prices have increased over the nine days trading days and have risen five weeks on Thursday. Reuters reports that oil prices have fallen on Friday, but it is expected that this week should increase, with a two-week rise.
It is noteworthy that Wednesday, more than 52% of crude oil and US crude oil were added last Wednesday during the last 52 days of December, in the bullfighting technique. Every year, year after year, the brokerage market has allowed international crude oil to last for more than a month and owes its bull market to more than a month.
Reuters has reported that oil prices have risen and have indicated that a better Sino-US trade situation and OPEC + production cuts expect an increase in oil prices, and the Fed's slow rate of interest rates is pushing the stock market.
According to Wall Street, on Wednesday, during the crude oil season, Saudi Energy Minister Falih decided in his country to reduce oil production and exports over the next few months, "the current market conditions are better than a few weeks." If it's better to go ahead with the demand for supplies again, I do not exclude OPEC + calling for more action. "
On Tuesday, the Wall Street Journal reported that the oil price has risen to more than $ 80, Saudi Arabia has reduced its crude oil exports by 10% in November.
In fact, the evolution of crude oil is expected in Wall Street. In the last month of last month's Wall Street article, the last two months of crude oil fell last month, as concerns the US government, US interest rates, international trade conflicts and global economic growth. Most Wall Street companies expect oil to recover in the first half of this year. The average oil price throughout the year is expected to be between 68-73 dollars / barrel, while US oil is 59-66 dollars / barrel.
But these institutions have warned that the increase in prices and the increase in oil prices have exceeded forecasts. Risk includes macroeconomic factors, such as Chinese trade and the undermining of Asian refining threats.
Michael Cohen, Barclays's energy market research leader, predicts that a V-shaped rebound may be seen next year, but it is based on two major conditions: one of the OPEC's exports declines to decline inventory and the other macroeconomic environment is no longer damaged.
Abhishek Deshpande, head of the Morgan Chase Petroleum Research and Strategy, said oil demand continued to grow in PMI manufacturing and industrial production in the coming quarters, but this recovery will not happen in terms of GDP, as of 2019, structural requests will be slowed down by 2020.
Reuters also mentioned that the concerns about the global economy have proven the market. Most analysts have reduced the economic growth rate this year, less than 3%. Some analysts are worried about the recession in the context of growth and commercial conflicts.