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Expect heavy resistance to oil prices before it reaches $90
- Time: 10/30/2021 18:55:38
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{Economic: Al-Furat News} The oil expert, Hamza Al-Jawahiri, expected, on Saturday, a strong resistance to oil prices before one barrel reached $90.
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
Al-Jawahiri told Al-Furat News, "Oil prices are global, and we expect oil prices to meet stiff resistance before they reach $90 per barrel."
He explained the decline in Basra crude and the variation in oil prices, to "the very large stock of speculators who are waiting for prices to rise as much as possible."
Al-Jawahiri indicated, "It is in the interest of Iraq and the oil countries to deplete these oil reserves so that prices and natural production return to their level."
The price of Basra Light Crude declined to record a weekly loss, the first in two months, as the prices of oil raw materials fluctuated during the past week as a result of the shortage in demand and
after the rise in gas and coal prices, which made oil prices less expensive on the one hand, and the rise in American crude stocks, and the economies of countries affected by the virus. Corona on the other hand.
Although Basra crude rose in its last session before closing Friday by 27 cents to reach $83.84, it achieved a weekly loss of 75 cents, or the equivalent of 0.89%.
Brent crude also rose in its last session by 6 cents to reach $84.38, but it achieved a weekly loss of $1.15, or 1.34% in a week.
The US West Texas Intermediate crude was also settled, up 76 cents, to reach $83.57 a barrel, but it also achieved a weekly loss of 19 cents, or 0.23%.
From: Raghad Daham
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{Economic: Al-Furat News} The oil expert, Hamza Al-Jawahiri, expected, on Saturday, a strong resistance to oil prices before one barrel reached $90.
The useful summary.. In important news, you can find it in the Euphrates News channel on the telegram.. [You must be registered and logged in to see this link.]
Al-Jawahiri told Al-Furat News, "Oil prices are global, and we expect oil prices to meet stiff resistance before they reach $90 per barrel."
He explained the decline in Basra crude and the variation in oil prices, to "the very large stock of speculators who are waiting for prices to rise as much as possible."
Al-Jawahiri indicated, "It is in the interest of Iraq and the oil countries to deplete these oil reserves so that prices and natural production return to their level."
The price of Basra Light Crude declined to record a weekly loss, the first in two months, as the prices of oil raw materials fluctuated during the past week as a result of the shortage in demand and
after the rise in gas and coal prices, which made oil prices less expensive on the one hand, and the rise in American crude stocks, and the economies of countries affected by the virus. Corona on the other hand.
Although Basra crude rose in its last session before closing Friday by 27 cents to reach $83.84, it achieved a weekly loss of 75 cents, or the equivalent of 0.89%.
Brent crude also rose in its last session by 6 cents to reach $84.38, but it achieved a weekly loss of $1.15, or 1.34% in a week.
The US West Texas Intermediate crude was also settled, up 76 cents, to reach $83.57 a barrel, but it also achieved a weekly loss of 19 cents, or 0.23%.
From: Raghad Daham
[You must be registered and logged in to see this link.]
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