Israeli Prime Minister Netanyahu called the Iran nuclear deal a terribleBrent crude oil spot price historical data deal, saying that it should not be signed at all. Netanyahu requested that the Iran nuclear agreement be declared invalid or improved. He stated that Iran has not fulfilled the commitments made by its leadership and continues to effectively develop nuclear weapons. Iran lied and Netanyahu came to this conclusion.
Because Saudi Arabia helped Trump increase production, oil prices continued to fall for nearly two months, with a drop of more than 0%, the largest drop in 0 years. Tarik Zahir, manager of Tish Capital Consulting, said that if OPEC fails to reach a production reduction agreement this time, US crude oil will fall below $45 per barrel. If this is the case, Trump should be happy.
However, OPEC officials and oil executives do not think so. They said that although imposing tariffs on US crude oil imports can help OPEC export more oil. But in the long term, trade disputes may affect economic growth and oil demand.
All bets on oil prices are on the United States' decision to withdraw from the Iran nuclear agreement. The deadline for confirming the Iran nuclear agreement is May 2. Since Trump took office, he has extended Iran’s sanctions exemption period three times. French President Macron who recently met with Trump believes that Trump will withdraw from this agreement because of domestic reasons.
Although Jeremyson did not directly state whether the two barrels of oil will acquire the large Danish oil field, Jeremyson revealed that the two barrels of oil required a follow-up discussion on technical issues related to oilfield exploitation. In addition, in order to allow investors to determine, Jeremyson said that Greenland will set up a representative office in Beijing within one year to strengthen the trade relationship between the two parties and increase mutual trust.
On Monday, September, the major emerging market currencies continued to fall. Brent crude oil spot price historical dataThe Turkish lira fell 7% to 628 lire to the dollar. The lira has depreciated 48% so far this year. The Iranian rial fell to an all-time low against the U.S. dollar at 28,000 rials. The Mexican peso fell 0.48%, and the Russian ruble fell 0.69%. Earlier on Monday, the Indonesian rupiah fell to its lowest level since the 998 Asian financial crisis.
Varga said that this impact will continue for some time, and market uncertainty will increase. Even Morgan Stanley, the top international investment bank, said that the oil market may become increasingly unpredictable in the coming months.
According to data previously released by the US Commodity Futures Trading Commission, the CFTC showed that the net long position reached 496 contracts in the week of February 2nd, the highest net long position in history since June 2006. The latest data for the week is As of the week of May, NYMEX held by speculators