North Dakota crude oil prices today

North Dakota crude oil prices today

On Tuesday, June 5th, the main contract of crude oil futures fluctuated and fell. As of the morning's close, the main contract SC809 closed at 465 yuan per barrel, down 0% or yuan per barrel from the previous trading day, with a trading volume oNorth Dakota crude oil prices todayf 946 lots.

In terms of specific oil prices, according to the statistics of the refined oil price network, the average price of domestic gasoline No. 9 and No. 92 is between 7-92 yuan, and the average price of No. 97 and No. 95 gasoline is between -8 yuan. Everyone can’t help but think of a joke. It says in the joke: On 20th, 2008, when the international crude oil was 47 US dollars per barrel, the average domestic gasoline price was calculated at RMB 9 per liter, and it was 208 yuan after ten years. On May 26, 2005, the international crude oil price was US$729 per barrel, while the average domestic gasoline price reached 4 yuan per liter. The international oil price fell by 47% in ten years, but the domestic oil price rose by 5%.

All in all, international oil prices broke through the $50 mark for the first time this week. This is due to OPEC's production cuts and the slowdown of US crude oil inventories. The rise in oil prices has increased the probability of domestic refined oil products being adjusted upwards according to the mechanism, and there will be a heavyweight data to be released in the evening. It is likely to expand the gains.

Markit's research report shows that in the next five years, oil production in the Permian Basin in the United States will increase by nearly 70% on the current basis. The company expects that by 202, the oil production of this basin spanning Texas and New Mexico will reach 5.4 million barrels per day. In comparison, data from the US Energy Information Administration shows that the basin’s oil production in May this year was 200,000 barrels per day.

US Secretary of State Tillerson said that the US ban on oil sales to Venezuela still needs to be considered. However, market participants believe that including Venezuelan oil in the sanctions is risky for the United States. As of 28th, 208, Venezuela was the seventh largest oil exporter in the United States, second only to Nigeria. In 206, Venezuela was once the third largest exporter of crude oil from the United States.

Wang Tao said that because the rebound from the low ofNorth Dakota crude oil prices today US$745/barrel on June 8 may continue, Brent crude oil may once again approach the resistance level of US$752/barrel. This round of rebound is controlled by several retracements of the US$80.49/barrel -745 US$/barrel decline.

Tran believes that OPEC does not want a hard landing of oil prices. After all, Saudi Arabia needs a price of around US$80 per barrel to balance its domestic budget. Wall Street has mentioned that some of the remaining 22 oil-producing countries involved in production cuts do not approve of appropriate increases in production.

In addition, it is particularly important to note that at 22:00 Beijing time, the Fed has another major event-the U.S. Senate Banking Committee will vote on the nomination of Fed Vice Chairman Clarida and Fed Council Candidate Bowman.

In May of this year, the U.S. government announced its withdrawal from the Iran nuclear agreement and granted various industries a grace period of 90-80 days for sanctions against Iran. The transition period for oil-related sanctions is 80 days, that is, it will resume its sanctions against Iran on the 4th. Sanctions on crude oil exports.

The focus of market attention is likely to be on the supply side again, as Libya seems to be aggravating these further market turmoil, and investors are worried about Libya’s output. Traders will eagerly hope to see how this will change the IEA's market description.