BRENT CRUDE OIL: at the bottom?

By | July 7, 2015

Brent crude oil price came under massive pressure from the previous day as market participants pledged to quote the agreement between Iran and the leading countries of the world on the nuclear program of the Islamic Republic, which could be signed in the coming days.

However, contracts have to aim at annual lows, and the situation on the market supply and demand is more favorable than in the winter. The volume of drilling in the US declined by 50% and production decline this case a maximum of 6-12 months. In addition, in the next 2-3 months, Iran will be able to bring to market a maximum of 500 thousand barrels.

crude oil chart
Crude oil chart
 Trading analytics
Brent crude oil (BRN)   –   brent crude oil   –   Entry price: 57,30. Goal: 58,60. Stop loss: 56,30.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.
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