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Overview: Brent crude oil remains under pressure after failing to gain a foothold in the $64

Forex Club 18.07.2019 at 14:39

The Price of oil (September futures Brent) on Thursday, July 18 to 17.25 Moscow time have decreased relative to the previous close of 1.6% to 62.66 per barrel.

the Market of "black gold" once again came under the pressure of sales slightly above the level of $ 64 per barrel.

the correction pulse after a failure of the oil prices on Tuesday, several dried up. Pressure on the price of oil continues to come from the prospects of establishing relations between the USA and Iran. In addition, after the completion of the storm in the Gulf of Mexico is gradually recovering oil production in the region.

meanwhile, the abrupt failure of the oil market earlier in the week still makes a profit and helped one of the traders Forex Club earn in a day more than 21 thousands of dollars on short positions in futures on the mark Brent.

At the same time Russia in may for the sixth month in a row remained the second in the world in oil production, after the United States, praised the organization of the "Joint initiative on oil statistics" (JODI). Leader has produced approximately 12,248 million barrels of oil per day, Russia - 10,461 million barrels, Saudi Arabia - of 9.67 million.

Russia and Saudi Arabia in accordance with the agreement, OPEC+ may cut production by 1.5% and 1.4% month-on-month, respectively. USA on the contrary – increased by 0.7%.

the Export of Saudi oil declined by 3.3% to 6,942 million barrels per day, Russia is apparently left at the 2nd place (only April data to 5,076 million barrels), Iraq increased its exports by 5.9% to 4,085 million barrels per day.

the U.S. remains (by far) the leader in oil refining, increase its in may by 2.4% to 16,729 million barrels per day. Russia has reduced the figure to 2.7% to 5,292 million barrels a day, Saudi Arabia - 5.2% to 2,464 million barrels per day.

the Euro against the dollar remains under pressure on the way to 1.12. Bidders play forex news that the ECB was studying the possibility of changing its target for inflation, and is considering the suitability for the post-crisis era, the current target rate of growth of consumer prices in the region at a level below or above, but close to 2%.

To 17.26 GMT, the Euro declined with the start of trading on the last fixing in the range of 0.05% to the dollar of 1.1220.

Market, USA, dollar, oil, ruble, Forex club

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