EIA Crude Oil Stocks Change Market Analysis
#USOIL#
The U.S. crude oil declined slightly today because the US economy’s stimulus package has been delayed.This dampened market confidence and the bulls chose to leave the crude oil market.
The new crown epidemic continues to raging in the United States and Europe and the situation has intensified, indicating.That the US and European economies still have no basis for effective recovery.
The support below today is concerned about 39.70,m.If it breaks below.It will continue to fall.
#USOIL# fell, global market sentiment was still bearish and supply and demand were unbalanced.The market pessimism brought about by the once again blockade of US fiscal negotiations caused the oil price trend to be dominated by bears again.
In addition, Libya's crude oil production will reach 55-56 million barrels per day by the end of this month.Which will put tremendous pressure on OPEC+'s production cuts.
We Start Every week will hold several discussions in this article.
USOIL prices fluctuated higher and the market expected that the United States was close to reaching an agreement on a pandemic relief plan.
Macroeconomic benefits pushed the dollar down and risky assets rebounded.Oil prices also hit a seven-week high on Tuesday.
If an agreement is reached U.S. oil may hit the 42 mark, but also need to focus on EIA inventory data.
Curde oil stocks reduced by every Oil countries to rise the value of stocks.Unfortunately the refineries and other companies reduced products based by the way of market cituation.
We need other sources of energy like solar, wind and sea waves energies.These are not affect our climate and health.
#EIA Crude Oil Stocks Change# (Sep 11)
EIA Crude Oil Stocks Change(Sep 11) will be at UTC 14:30 announced.US crude oil stocks increased by 2.032 million barrels in the week ended September 4th 2020.
The first rise in seven weeks and compared to market expectations of a 1.887 million drop, according to the EIA Petroleum Status Report.
USOIL prices fluctuated higher, and the market expected that the United States was close to reaching an agreement on a pandemic relief plan.
Macroeconomic benefits pushed the dollar down and risky assets rebounded.Oil prices also hit a seven-week high on Tuesday.
If an agreement is reached U.S.Oil may hit the 42 mark, but also need to focus on EIA inventory data.
Note:
What’s your opinion about it? It will increase or? This is a very vital data, which action will you take? Buy USOIL? or sell?
Write it down in comments, let’s discuss it!
.webp)
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