Crude oil trading TD Ameritrade platform
1/28/2021

Crude oil trading TD Ameritrade platform

By Crude oil market dynamics

Russian scholars said that Russia is not going to export a large amount of oil this year. The oil imported from Iran will be directly replaced by the Russian brand and exported to other countries. This kind of bartering trade can also increase Russia's expoCrude oil trading TD Ameritrade platformrts to Iran, and Russia's food commodities and weapons can be continuously supplied to Iran. At the same time, Russia can also make a fortune by selling oil imported from Iran at a price increase.

Iranian Petroleum Minister Jabar said that the country's crude oil exports reached a record 590,000 barrels per day. The crude oil production is about 460,000 barrels per day, which is the upper limit of production agreed with OPEC. Iraq’s current production capacity is about 4.75 million barrels, excluding the semi-autonomous Kurdish region in the north.

Oil bulls also tend to believe that Saudi Arabia and Russia are trying to lead oil prices to $80 per barrel. However, Barclays said that Trump recently asked OPEC to lower gasoline prices on Twitter, which will attract Saudi Arabia's attention. Saudi Arabia has friendly relations with the US government.

On Wednesday, May 6, at 6:00 Beijing time, the International Energy Agency IEA announced its monthly crude oil market report. The report warned that potential oil supply disruptions in Iran and Venezuela have prompted traders to focus on geopolitical factors, and that the reduction in supply will cause oil prices to soar. IEA said that rising oil prices will curb the growth of crude oil demand in the second half of the year.

Although the EIA inventory data has recorded a substantial increase, the impact of this data will generally only last for a short time. Therefore, if crude oil prices can hold the $7 line during the decline today, then the market can basically maintain a rise this week. Down balance. As for the crude oil market, as long as it stabilizes above US$70, the crude oil market in the future still has very strong potential bullish positives that have not broken out.

Sentiment is mainly reflCrude oil trading TD Ameritrade platformected in changes in holdings, while changes in fund managers’ holdings more reflect changes in market preferences. Generally speaking, when the market's long-short power balance changes, it is often a signal of a market turning trend.

Although producers have a strong incentive to increase production when crude oil prices rise, and reduce production when prices fall, their ability to follow up is subject to various restrictions, such as oil price production capacity and formation pressure. Oil storage and oil wells have their own upper limits on the flow of oil produced, so when oil prices rise, producers simply cannot squeeze more oil from existing wells.

In addition, the international crude oil market may usher in a new agreement in the near future. According to financial media CNBC, after the end of the OPEC Vienna meeting, Novak said that OPEC and non-OPEC oil producing countries are planning to sign a new agreement on production before the end of this year. The framework of the agreement has been Share with participating countries at the meeting so that they can make changes. This new agreement will be largely based on the monitoring of market conditions, the creation and institutionalization of regulatory agencies, and the ability to take measures. Novak said.