US President Trump said last week that North Korea’s progress is very optimistic, and that the Special Gold Conference in Singapore on June 2 is the beginning. The meeting with Kim Young-cheol, vice chairman of the Central Committee U.S. crude oil prices todayof the Workers’ Party of Korea, discussed the issue of sanctions, hoping to usher in the day when the sanctions against North Korea will end. Trump said that the Special Fund will be a procedure and will not sign any agreements.
The United States on Tuesday announced a list of recommended products for imposing 0% tariffs on 200 billion U.S. dollars exported to the United States for public comments. This has caused oil prices to fall in the short-term, as the market is worried that this may lead to a decline in crude oil demand.
However, the Election Committee opposed the parliament’s order to recount the votes manually. The committee also said last Thursday that it would use constitutional and legal rights to challenge the amendment to the electoral law to allow recounts, because S&P Global Platts said in a statement that the amendment contains many Irregularities.
From the perspective of the market, the global demand for crude oil was relatively healthy in May. In fact, the US Energy Information Administration stated that US crude oil exports reached 2.56 million barrels per day, a record high. At the same time, U.S. crude oil production has reached 0.8 million barrels per day, which will enable U.S. crude oil production to gradually meet domestic and international needs.
Specific data show that gasoline inventories recorded a decrease of 740,000 barrels in the week as of August 0, which is expected to decrease by 50,000 barrels, and the previous value increased by 2.9 million barrels; refined oil inventories recorded an increase of 560,000 barrels for the week, a continuous weekly record It is expected to increase by 940,000 barrels, the previous value increased by 20,000 barrels; that week, crude oil inventories in the Cushing area of Oklahoma increased by 60,000 barrels, and the previous value decreased by 590,000 barrels. After two consecutive weeks of declines This week recorded growth, and hit a new high in the nine weeks since the week of April 6; the equipment utilization rate of the refinery was 9% that week, the highest in 999 years.
However, Total recently transferred its rights and interests to PetroChina because it was worried that the US sanctions against Iran would affect its oil exploration in Iran. PetroChina has become the largest shareholder of this project. It will be more convenient to cooperate with Iran in oil and gas in the future. Not only can it bU.S. crude oil prices todaye settled in oil RMB but also natural gas RMB, the international use rate of RMB will be further expanded.
However, with the recent intensification of international trade disputes and the fact that Saudi Arabia and Russia, which dominate OPEC, have stated that they will consider lifting the production ceiling and increase the output of 0 million barrels per day, this has caused expectations for crude oil to begin to decline, which led to a decline in oil prices. Recently, the US dollar once touched the 95 mark, intensifying this trend, making the intraday crude oil drop of 6% on May 28.