Trump almost handed over the task of increasiHow to td ameritrade symbol for crude oil spotng crude oil production to Saudi Arabia, and now Saudi Arabia has been attacked frequently, which undoubtedly increased the instability of the Middle East situation. On July 25, Saudi Arabia’s Minister of Energy, Industry and Minerals Falih issued a statement stating that two giant Saudi oil tankers were successively attacked by the Houthi armed forces in Yemen when they entered the Red Sea on the same day, and Saudi Arabia was also forced to stop passing through Aden. The bay channel carries oil.
At the same time, the euro/dollar has some good trends in trading, although it is not enough to get it out of the comfort zone between 2 and 24. The currency pair is hovering at the upper end of this range, but another batch of weak EU and UK data released in the European market has dragged down the local currency exchange rate. The currency pair had recovered before the opening of Wall Street, but the US data was better than expected, and US Treasury yields rose, which put the dollar back on track at a later date.
The first batch of US sanctions against Iran will still take effect from August 6. The US Secretary of State and Treasury Secretary stated in a statement that they plan to impose unprecedented financial pressure on Iran. Earlier, Europe was concerned about the changing trade situation in Europe and the United States and its economic prospects were unclear. It proposed to the United States to ease or postpone sanctions against Iran. The United States is still not letting go on the Iran issue and officially rejected the EU's proposal to ease sanctions against Iran.
However, due to fundamental uncertainty, many investors still invest money in crude oil to maintain the strong trend of oil prices. Because for Saudi Arabia, a major OPEC producer, it is a very dangerous thing to suppress oil prices below $70 in a short time.
Minister Zanganyi accused that some OPEC members were acting in accordance with US policy. Some member states are making different interpretations of OPEC's latest decision on oil production and are acting in accordance with US policies.
According to BBC reports, British Foreign Secretary Boris has set off for Washington for a two-day visit to the United States. According to the report, Boris's trip is aimed at urging Trump not to destroy the international agreement that prevents Iran from acquiring nuclear weapons. Recently, French President Macron stated that if Trump chooses to withdraw from the Iran nuclear agreement, war may follow. Iranian President Rouhani also said on the 6th that no matter what decision Trump makes, he hHow to td ameritrade symbol for crude oil spotas countermeasures, but if the United States decides to withdraw from the agreement, he will regret it.
Affected by this, as of 9:00 on April 26, the US dollar index rebounded to around 92, the highest point this year. But many financial institutions are opposed to this-when oil prices continue to hover above US$70, it will pose a negative pressure on US economic growth. If oil prices reach US$80-00/barrel, the US economy may face the risk of recession due to high inflation. .