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Friday, 19 October 18:05 (GMT -05:00)



Stock and commodities markets

Trump Will Take Revenge on Middle East because of Crude Oils


Donald Trump threated some Middle Eastern oil producers to take revenge on them because of crude oil prices. This is not the first time the American president is criticizing the Middle East in Twitter for being reluctant to contribute to lower oil prices. 
 
On September 20th, he posted a new tweet addressed to the oil producers from the Persian Gulf. In this tweet, he urges the OPEC to cut their export oil prices as soon as possible:
 
"We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!"
 
Strangely enough, Donald Trump's tweet didn't surprise the market. Oil prices have been relatively high for quite a while, even despite minor ups and downs that are seen on any market on a regular basis. On September 21st, Brent oil traded within the range between $78,5/b and $80,02/b. At the same time, WTI oil traded around $70,5/b.
 
By the way, Donald Trump posted something similar to that back in June 2018. In his tweet, he criticized the OPEC for starting to manipulate oil prices again, which a bad thing to do. Back then, Brent and WTI oil cost 75 and 66 dollars per barrel respectively. As you can see, oil prices have gained a bit since then, which is something the U.S. president doesn't like at all.
 
At the same time, we can understand the OPEC's motivations. The bigger the prices, the more money they earn in foreign currency. On the other hand, high oil prices are something that oil importers would not like to see. At the same time, higher oil prices lead to costlier diesel and gasoline, which contributes to stronger inflation. 
 
As for market predictions, international experts assume that Brent oil is going to stay within the 75-80 range until the end of 2018, unless a major trade war or some tensions in the Middle East break out.
 
 
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USA Leaves China Without Crude Oil, Russia Is Ready To Compensate

The trade war between the United States and China is still underway. Earlier this month, America made another attempt to undermine the Chinese economy. The thing is, that up until recently, America used to be one of the biggest exporters of crude oil to China. In summer, the U.S. export of crude oil to China used to be equal to 10,5 million barrels a month. At this point, America has almost suspended the export of crude oil to China. Last month American oil companies shipped as little as 600K barrels, with no oil shipping planned for this month.

Publication date: 17 October 10:29 AM

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Publication date: 03 October 09:10 AM

Trump is helpless: oil prices keep going up

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Publication date: 01 October 10:15 AM

China declares crude oil war on USA

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Publication date: 11 September 11:55 AM

China's dependence on crude oil increases fast

Over the last few years, China has been getting more and more dependent on the import of crude oil and some other energy carriers. Most of those oil imports are of Russian origin. the thing is that CHina's domestic oil and natural gas production has been contracting over the last few years while the country's production capacities have increased and are now in high demand of more energy.

Publication date: 11 September 10:40 AM

Trump Is Close to His Goal - Oil at $50/b

According to Finanz, President Trump is close to making oil prices drop down to $50/b like never before. Last week was bearish for the global market of crude oil. This happened mainly due to the agreement between the U.S. president and the King of Saudi Arabia.

Publication date: 23 August 11:36 AM

Investment Banks Raise Their Oil Forecasts

The world's biggest investment banks have raised their oil forecasts again, for the 10th month in a row, The Wall Street Journal reports. 

Publication date: 02 August 12:00 PM

Oil Prices May Skyrocket to $400/b if Iran Blocks the Strait of Hormuz

Blocking the Strait of Hormuz will inevitably trigger a global energy crisis while pushing oil prices to unseen heights, maybe even all the way up to $400/b. This is what the experts interviewed by PRIME think about the situation.

Publication date: 19 July 09:45 AM

Higher OPEC+ Production Quotas Won’t Raise Oil Prices, Kudrin Says

Chairman of the Russian Accounts Chamber Alexei Kudrin assumes that the OPEC+ participants’ decision to increase the daily oil production quotas won’t affect international oil prices.

Publication date: 16 July 09:58 AM

Trump Urges OPEC to Raise Their Daily Oil Production by 2M Barrels

Donald Trump claims that the OPEC should raise their daily oil production by 2 million barrels. During his interview to Fox News, he accused the oil cartel of manipulating oil prices.

Publication date: 05 July 11:47 AM