Oil continues to rise today as the global demand for oil continues to improve with multiple countries lifting the travel restrictions and the travel season approaching. The travel boom expected this summer – due to European countries allowing their vaccinated citizens to travel freely across the union – is expected to push oil prices even further. Besides this the latest output easing from OPEC+ was offset by the lowered output form the other suppliers. The biggest drop was in Nigeria, where exports slowed from a number of terminals. Angolan supply also declined. Iran, which has managed to raise exports since the fourth quarter despite U.S. sanctions, exported less in May due to lower demand in China.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
BRENT overview 31.05.2021
Oil rises on lowered output.
Oil continues to rise today as the global demand for oil continues to improve with multiple countries lifting the travel restrictions and the travel season approaching. The travel boom expected this summer – due to European countries allowing their vaccinated citizens to travel freely across the union – is expected to push oil prices even further. Besides this the latest output easing from OPEC+ was offset by the lowered output form the other suppliers. The biggest drop was in Nigeria, where exports slowed from a number of terminals. Angolan supply also declined. Iran, which has managed to raise exports since the fourth quarter despite U.S. sanctions, exported less in May due to lower demand in China.
Except buyers on downward corrections.
Next resistance to watch – 70.00
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
Open account
Latest Posts
Amega launches a brand new client area… and the crowd goes wild!
16 November 2023Amega reduces spreads up to 50%
25 September 2023Amega is going to the Traders Fair South Africa, 2023
14 September 2023Copycats: How social trading is changing the game.
18 July 2023BRENT 14.07.2023
14 July 2023Categories
Tags