Brent is ready to go below $66

TVC:UKOIL   CFDs on Brent Crude Oil
Brent attempts unsuccessfully to stay in the positive territory on Wednesday following a yesterday’s sell-off on the back of global risk aversion and US dollar             demand fuelled by rather optimistic comments from the new FED Governor Powell. As a result, prices had to give up the $67 mark and retreat to lows barely above the $66 level which is now the immediate support.
The additional bearish driver for the oil             market was this morning’s report that reflected the decreasing factory activity in China, the world’s largest oil             importer. Besides, it is reported that Iraq has agreed a deal with Kurds to resume crude oil             exports through its pipeline to Turkey. So far, the market hasn’t reacted to the news, as many traders doubt the deal will be implemented immediately, while in the longer term it may become a bearish signal for prices which tend to retreat on decreasing geopolitical tensions.
The market continues to closely monitor the USD dynamics while looking forward to the upcoming official weekly data from the U.S. Energy Information Administration EIA             . Should the report show further increase in production, Brent could pull back to the recent lows and even test the $66 mark in case the crude oil             and gasoline inventories rise as well.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out