echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > Chemical Technology > Crude oil futures prices were lower as OPEC would increase oil supply

    Crude oil futures prices were lower as OPEC would increase oil supply

    • Last Update: 2022-11-24
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    According to foreign media news, on Tuesday morning in the United States, the price of Brent crude oil on the Intercontinental Exchange (ICE) fell in August, as the market expected OPEC producers to ease production restrictions
    soon.

    At 1326 GMT, the price of August Brent crude oil on the Intercontinental Exchange fell by $1.
    16 to $74.
    13 per barrel
    .
    Crude oil prices fell 40 cents to $64.
    35 a barrel on the New York Mercantile Exchange for July
    .
    The July ULSD was at $2.
    1248 per gallon
    .
    The July RBOB was at 2.
    31 cents at $2.
    0993 a gallon
    .

    The price of ICE August Brent hit a low of $73.
    81 a barrel on Tuesday, falling below the lower end of its Bollinger Band, which is calculated at $74.
    30 a barrel, suggesting that front-month contracts may have moved into oversold territory
    .

    The last time Brent crude oil prices fell below the lower Bollinger range was on May 8
    .
    Subsequently, crude oil prices rose, and Brent crude prices rose to the maximum limit until there were signs that Saudi Arabia and Russia were considering increasing supply
    .

    12Next View full article

    According to foreign media news, on Tuesday morning in the United States, the price of Brent crude oil on the Intercontinental Exchange (ICE) fell in August, as the market expected OPEC producers to ease production restrictions
    soon.

    crude

    At 1326 GMT, the price of August Brent crude oil on the Intercontinental Exchange fell by $1.
    16 to $74.
    13 per barrel
    .
    Crude oil prices fell 40 cents to $64.
    35 a barrel on the New York Mercantile Exchange for July
    .
    The July ULSD was at $2.
    1248 per gallon
    .
    The July RBOB was at 2.
    31 cents at $2.
    0993 a gallon
    .

    The price of ICE August Brent hit a low of $73.
    81 a barrel on Tuesday, falling below the lower end of its Bollinger Band, which is calculated at $74.
    30 a barrel, suggesting that front-month contracts may have moved into oversold territory
    .

    The last time Brent crude oil prices fell below the lower Bollinger range was on May 8
    .
    Subsequently, crude oil prices rose, and Brent crude prices rose to the maximum limit until there were signs that Saudi Arabia and Russia were considering increasing supply
    .

    12Next View full article
    12Next View full article
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.