The oil will return to around$ 75 per barrel and will remain there until Saturday
The news yesterday gave the technical impetus to the growth of oil within the corridor 74-75 dollars per barrel. Unfortunately for exporters, the upper limit of the corridor has not been overcome. Trump and macron have tried to raise prices due to new insinuations against Iran, but the news market are perceived weaker.
At the same time information about the execution of his plan by OPEC to retain production rates keep quotes in a fairly narrow framework, and market participants use these data as well as data on stocks in the United States to maintain the cost of a barrel. But the evening news and an explosion at a refinery in the US on Friday morning will cause the barrel to rise to 76 dollars, even before the announcement of the results of the examination for further operation of the plant.
Internal factors reporting and preparedness sanctions, will have a stabilizing impact on domestic quotations of oil companies, but to SAP the momentum from the US quickly can’t.
Such a leap for market participants will be used to the maximum, and temporary peak prices make jittery during the day, each active investor, but by the evening the situation calmed down and the oil will return to the strap in the $ 75 per barrel, where it will remain until Saturday.
IR Global Capital