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Expert: crude oil prices will keep rates
08/5/2018 12:00 am [rtl]While it reached its highest level since 2014 Morning / Continue While crude oil prices on Monday rose 1 percent to their highest levels since late 2014, supported by the economic crisis is intensifying in Venezuela, the economic expert warned that the reality of oil prices will keep the near-term close to this level in the near term, with the possibility of Higher prices in case the global market witnessed new events. By 0650 GMT, Brent crude for the year was $ 75.57 a barrel, up 70 cents, or 0.9 percent, from the previous settlement. Earlier in the session, crude touched its highest level since November 2014 at $ 75.89 a barrel. West Texas Intermediate crude futures rose 70 cents, or 1 percent, to $ 70.42 a barrel. And exceeded US crude to $ 70 a barrel on Monday for the first time since November 2014. The decline in stocks Economist Haidar al-Baghdadi said: "All the data of the crude oil market indicates that the reality of prices will be close to current rates or exceed them in varying rates were not large, especially with the commitment of producers agreement to keep production, corresponding to the decline of global stocks," pointing out that "The reality of the market may see an increase in demand in the coming months, which in turn boost prices in the international market and raise revenues of oil states, which suffered a decline in revenues to the limits of major. At the same time, Shanghai's crude oil contracts in China exceeded its record high of $ 71.32 a barrel to $ 72.54 on Monday. The economic crisis Some analysts warn that the worsening economic crisis in Venezuela, a major oil exporter, threatens more pressure on its production and exports, and Venezuela's production has halved since the early 2000s to only 1.5 million bpd, with the country not pumping enough investment. Futures contracts and along with concerns about Venezuela, Greg large market experts McKenna has tog Trader brokerage said in futures contracts "big story this week will be related to the oil agreement and Iran , " he said , adding that most market players expect the withdrawal of US President Donald Trump of the agreement. Iran returned to major oil exporters in 2016 after lifting international sanctions imposed on it in exchange for restricting its nuclear program .[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=156778 [/rtl] |
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