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Market News NYMEX crude oil expected to further rise to 72.41 US dollars
NYMEX crude oil expected to further rise to 72.41 US dollars
On September 14, international oil prices expanded their growth and continued to hit a new high since the beginning of August. There are signs that another storm may affect production in Texas, the United States this week, and Hurricane Ida caused damage to the Gulf Coast. Later, the US oil industry is still working hard to resume production. NYMEX crude oil is expected to further rise to 72.41 US dollars.
2021-09-14
11545
On Tuesday (September 14), international oil prices expanded their growth and continued to hit a new high since the beginning of August. There are signs that another storm may affect the production of Texas in the United States this week. After the damage along the coast, the US oil industry is still working hard to resume production. NYMEX crude oil is expected to further rise to 72.41 US dollars.
GMT+8 13:37, NYMEX crude oil futures rose 0.74% to 70.97 US dollars / barrel; ICE Brent crude oil futures rose 0.64% to 73.98 US dollars / barrel. The two cities respectively hit a new high of US$71.06/barrel since August 3 and a new high of US$74.10/barrel since August 2.
The U.S. Gulf of Mexico oil platform began to evacuate staff on Monday (September 13). The National Hurricane Center said that tropical storm "Nicholas" (Nicholas) was moving at 70 miles per hour in the waters off the southern coast of Texas on Monday. The speed moves northward. It may evolve into a hurricane before making landfall.
According to data from the Bureau of Security and Environmental Enforcement (BSEE), two weeks after Hurricane Ida hit the coast of Louisiana, more than 40% of oil and gas output in the U.S. Gulf region was still shut down on Monday.
Hiroyuki Kikukawa, General Manager of Research Department of Nissan Securities, said: "Worries about'Nicholas' prompted everyone to buy, because it may attack the area destroyed by Ada, but it is not expected to be as strong as Ada. However, the market upside will be limited. As the summer driving season in the United States is gradually over, and the United States and China plan to release strategic oil reserves, and Iran may resume oil exports, it may increase supply."
The US government agreed to use the National Emergency Reserve to sell crude oil to eight companies to raise funds for the federal budget, including ExxonMobil, Chevron and Valero. A few days ago, China planned to release oil from the Strategic Petroleum Reserves (SPRs).
The International Atomic Energy Agency (IAEA) reached an agreement with Iran last Sunday (September 12) to solve the "most pressing problem" of both parties, namely, overdue maintenance to keep monitoring equipment running, which ignited Iran and Western countries more widely Hope for new negotiations on the agreement.
On the daily chart, U.S. oil is in an upward ((3)) wave starting from 61.74 US dollars, and the upper short-term target is at the 14.6% target of 72.03 US dollars. On the hourly chart, oil prices are in three upward waves starting from US$67.58, and are expected to further attack the 61.8% target of US$72.41.
GMT+8 13:37, NYMEX crude oil futures rose 0.74% to 70.97 US dollars / barrel; ICE Brent crude oil futures rose 0.64% to 73.98 US dollars / barrel. The two cities respectively hit a new high of US$71.06/barrel since August 3 and a new high of US$74.10/barrel since August 2.
The U.S. Gulf of Mexico oil platform began to evacuate staff on Monday (September 13). The National Hurricane Center said that tropical storm "Nicholas" (Nicholas) was moving at 70 miles per hour in the waters off the southern coast of Texas on Monday. The speed moves northward. It may evolve into a hurricane before making landfall.
According to data from the Bureau of Security and Environmental Enforcement (BSEE), two weeks after Hurricane Ida hit the coast of Louisiana, more than 40% of oil and gas output in the U.S. Gulf region was still shut down on Monday.
Hiroyuki Kikukawa, General Manager of Research Department of Nissan Securities, said: "Worries about'Nicholas' prompted everyone to buy, because it may attack the area destroyed by Ada, but it is not expected to be as strong as Ada. However, the market upside will be limited. As the summer driving season in the United States is gradually over, and the United States and China plan to release strategic oil reserves, and Iran may resume oil exports, it may increase supply."
The US government agreed to use the National Emergency Reserve to sell crude oil to eight companies to raise funds for the federal budget, including ExxonMobil, Chevron and Valero. A few days ago, China planned to release oil from the Strategic Petroleum Reserves (SPRs).
The International Atomic Energy Agency (IAEA) reached an agreement with Iran last Sunday (September 12) to solve the "most pressing problem" of both parties, namely, overdue maintenance to keep monitoring equipment running, which ignited Iran and Western countries more widely Hope for new negotiations on the agreement.
On the daily chart, U.S. oil is in an upward ((3)) wave starting from 61.74 US dollars, and the upper short-term target is at the 14.6% target of 72.03 US dollars. On the hourly chart, oil prices are in three upward waves starting from US$67.58, and are expected to further attack the 61.8% target of US$72.41.
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