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According to some analysts, the price of black gold will grow in the near future. A day earlier, on Tuesday evening, July 16, oil quotations went down sharply against the backdrop of statements by US President Donald Trump. Recall that the American leader announced the readiness of negotiations with Iran on the nuclear program.
On Wednesday morning, July 17, the cost of Brent crude fell from $67 to $64 per barrel. The price of a light grade of WTI fell from $ 0 to $57.80 per barrel. According to experts, the drop reached 4%, which is considered quite impressive. Analysts believe that powerful oil bulls have again entered the market, which brought down oil in favor of the US leader.
Negative of the black gold market added statistics on stocks in the US. According to the American Petroleum Institute (API), total stocks of raw materials fell by 1.4 million barrels over the past week. At the same time, WTI light oil quotations reacted positively to the API report, increasing by 1.42% to $58, 40 per barrel. However, the decline in weekly reserves turned out to be much weaker than forecast. Today, this information should confirm or deny the US Department of Energy, experts reminded. Market participants expect a decline of 2.7 million barrels. If the real reduction turns out to be much more than expected, then oil quotes can win back $1- $1.5 from yesterday's collapse, analysts are certain.
According to experts, the global black gold market is threatened by an imbalance if Iran returns. The appearance on the world stage of this player may bring down oil prices. According to the International Energy Agency (IEA), the oil market is on the verge of oversupply at the moment, when Tehran is almost cut off from exports.According to some analysts, the price of black gold will grow in the near future. A day earlier, on Tuesday evening, July 16, oil quotations went down sharply against the backdrop of statements by US President Donald Trump. Recall that the American leader announced the readiness of negotiations with Iran on the nuclear program.
On Wednesday morning, July 17, the cost of Brent crude fell from $67 to $64 per barrel. The price of a light grade of WTI fell from $ 0 to $57.80 per barrel. According to experts, the drop reached 4%, which is considered quite impressive. Analysts believe that powerful oil bulls have again entered the market, which brought down oil in favor of the US leader.
Negative of the black gold market added statistics on stocks in the US. According to the American Petroleum Institute (API), total stocks of raw materials fell by 1.4 million barrels over the past week. At the same time, WTI light oil quotations reacted positively to the API report, increasing by 1.42% to $58, 40 per barrel. However, the decline in weekly reserves turned out to be much weaker than forecast. Today, this information should confirm or deny the US Department of Energy, experts reminded. Market participants expect a decline of 2.7 million barrels. If the real reduction turns out to be much more than expected, then oil quotes can win back $1- $1.5 from yesterday's collapse, analysts are certain.
According to experts, the global black gold market is threatened by an imbalance if Iran returns. The appearance on the world stage of this player may bring down oil prices. According to the International Energy Agency (IEA), the oil market is on the verge of oversupply at the moment, when Tehran is almost cut off from exports. According to some analysts, the price of black gold will grow in the near future. A day earlier, on Tuesday evening, July 16, oil quotations went down sharply against the backdrop of statements by US President Donald Trump. Recall that the American leader announced the readiness of negotiations with Iran on the nuclear program.
On Wednesday morning, July 17, the cost of Brent crude fell from $67 to $64 per barrel. The price of a light grade of WTI fell from $ 0 to $57.80 per barrel. According to experts, the drop reached 4%, which is considered quite impressive. Analysts believe that powerful oil bulls have again entered the market, which brought down oil in favor of the US leader.
Negative of the black gold market added statistics on stocks in the US. According to the American Petroleum Institute (API), total stocks of raw materials fell by 1.4 million barrels over the past week. At the same time, WTI light oil quotations reacted positively to the API report, increasing by 1.42% to $58, 40 per barrel. However, the decline in weekly reserves turned out to be much weaker than forecast. Today, this information should confirm or deny the US Department of Energy, experts reminded. Market participants expect a decline of 2.7 million barrels. If the real reduction turns out to be much more than expected, then oil quotes can win back $1- $1.5 from yesterday's collapse, analysts are certain.
According to experts, the global black gold market is threatened by an imbalance if Iran returns. The appearance on the world stage of this player may bring down oil prices. According to the International Energy Agency (IEA), the oil market is on the verge of oversupply at the moment, when Tehran is almost cut off from exports.
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