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Oil - how to earn? Trading Ideas traders 12.09.2019: Brent - why oil falls


Brent crude during the trading session on Wednesday lost more than 2.5% and closed the day at $ 61.13 per barrel. On the eve of the oil sales increased to Bloomberg reports with reference to several informed sources that this week US President Donald Trump discussed the possibility of easing sanctions on Iran to resume talks with Iran Rouhani. If an Islamic state will be exempt from all restrictions, it can lead to an increase in the volume of exports of Iranian oil and the growth of the world's supply.


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Against the background of still actual risk of a slowdown in the world economy, the additional volume of supply in the conditions of lower demand may well provide the market with a long-term reduction factor. It should be noted that the support prices did not have even a significant reduction in US oil inventories. As reported by the Department of Energy Energy Information Administration, US crude stocks last week fell by 6.9 million. Barrels, while analysts had expected a decline of 2.4 million. Barrels.

The American Petroleum Institute said earlier about falling stocks at 7.2 million. Barrels. in US oil production remained at the level of 12.4 mln. barrels per day against a record $ 12.5 million. barrels per day reached a few weeks ago. Will traders hold positions independent of OPEC rhetoric Technical Committee +, the meeting of which will take place in a few hours. The mere hint of unwillingness of Russia or Saudi Arabia to the further reduction of oil production will be enough to save downward trend.


Brent SellStop 60,90 TP 56,50 SL 61,50

Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets. The social network of Forex traders shall not be liable for any damages in case of a vision materials



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