We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News NYMEX crude oil sees $108.10 in the afternoon market

NYMEX crude oil sees $108.10 in the afternoon market

On Tuesday (May 3), international oil prices were under pressure as China's anti-epidemic lockdown measures were negative for oil prices, but Europe's imposition of an import embargo on Russian oil may hit supply and limit the downside of oil prices. Record-sized U.S. energy exports are eating into the supply of the U.S. domestic market. NYMEX crude oil will see $108.10 in the market outlook.

2022-05-03
9869
On Tuesday (May 3), international oil prices were under pressure as China's anti-epidemic lockdown measures were negative for oil prices, but Europe's imposition of an import embargo on Russian oil may hit supply and limit the downside of oil prices. NYMEX crude oil will see $108.10 in the market outlook.

At 15:31 GMT+8, NYMEX crude oil futures fell 0.17% to $104.99 a barrel; ICE Brent crude futures fell 0.19% to $107.36 a barrel.

Vivek Dhar, commodities analyst at Commonwealth Bank of Australia, said: "The positive driver is the potential EU embargo on Russian oil imports, and the negative driver is the Chinese blockade measures. They are an important theme for the market in the near term."

The European Commission is expected to finalize a sixth set of sanctions against Russia's invasion of Ukraine on Tuesday, including a ban on the purchase of Russian oil. But two EU officials said on Monday (May 2) that the embargo may not affect Hungary and Slovakia, both of which rely heavily on Russian crude.

Record-sized U.S. energy exports are eating into the supply of the U.S. domestic market. At least 2 million barrels of gasoline, diesel and jet fuel flowed overseas from refineries in the U.S. Gulf of Mexico in April, according to cargo tracking service Vortexa Analytics.

On the daily chart, the price of NYMEX crude oil is in an upward ((3)) wave starting from $95.28, with the upper resistance looking at the 23.6% target at $111.34. In the hourly chart, oil prices started an upward (3) wave trend from $100.28, with the upper resistance looking at the 61.8% target at $108.10. Wave (3) is a sub-wave of ((3)).
Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free