Bakken Crude Oil Price

Bakken Crude Oil Price

To be sure, we haveBakken Crude Oil Price reason to believe that oil prices may reach US$00 per barrel and continue to rise. As long as Trump is still in the White House, anything can happen. The conflict between Iran and Israel may trigger a full-scale conflict in the Middle East. The fragile agreement between North Korea and the United States may be broken. In this case, the cost of crude oil will remain at a higher level for a longer time.

Disturbances have always been a favorite topic among speculative funds. Speculative fund holdings have reached a high level, and now the bulls are still on their way to Masukura. Zhong Jian said that currently, the total position of speculative funds in the New York crude oil futures market has increased by about 50% compared to 204, which has accumulated tremendous energy for future oil price speculative bubbles. Zhong Jian believes that in terms of oil production, the United States has kept pace with Saudi Arabia and Russia, and has joined the list of the most important oil producers in the world. In the long run, the United States will also become a major oil exporter and hope to see oil prices rise.

Analysts pointed out that the success of the US-North Korea summit means signing a road map for peace and denuclearization, and that Kim Jong-un may visit the White House in the future. This will trigger a risky sentiment, which is conducive to the stock market and risky currencies. The US dollar will depreciate against all currencies except the yen. If it fails, it means that no agreement has been reached, and the negotiation may even be interrupted suddenly. This will cause the stock market to fall and the yen to soar, followed by the US dollar.

Regarding the direct decline in crude oil prices on Monday, some experts believe that after a weekend of buffering, market sentiment has eased to a certain extent, and the United States does not dare to further conflict with Russia.

Why is this? Let’s talk about the fundamentals first: in the investment field, there has never been a rigorous causal relationship. A fundamental news may appear in two opposite directions for different people. For example, rising inflation. event.

OPEC and Russia may decide to increase oil prodBakken Crude Oil Priceuction at a meeting in Vienna from June 22nd to 2nd to ease the rapidly rising oil prices and make up for the loss of output caused by the Venezuelan economic crisis and sanctions on Iran. For this upcoming meeting, the market is currently very worried that OPEC will release news of increasing production, because OPEC said that the current production cut has achieved the expected effect, and facing the huge gap in Middle East crude oil, OPEC is likely to have to increase production. make up. This is also the reason why oil prices have continued to plunge recently.

The flip side of the situation is that oil demand looks more volatile than at any time in recent years. Not only will the demand growth rate be slower than expected, but analysts may be too optimistic. The decline in global stock markets in the past week has sounded many alarm bells, and more and more market observers worry that a global economic recession and/or financial crisis is imminent.