With the developments in Middle East geography like Syria and Iraq, the prices of brent oil are affected by them seriously at the last times. When we look at the general view of brent oil for last two years, we could observe a strong decrease on brent oil prices. Analysis about the oil exporting countries to slow down the production of related news and released yesterday indicate that the IMF report pessimistic expectations about the global economic outlook led to an increase in selling pressure on oil prices.
The released U.S. Non-Farm Payrolls and unemployment data, who stated that oil prices could be decisive on the direction of analysts, the price of a barrel of Brent oil with 44,90 USD the level of medium-term critical support is in a position view, many experts say. When we look at the past data of brent oil market, the prices decreased to under of 30.00 USD level on the global forex market. On the other hand, the prices of brent oil have started to increase in the middle of 2016 because of sales pressure started to decrease on oil producers all around the world. But, we should consider the war and conflict conditions in Iraq and Syria region, because Iraq is an important oil producer.
The other day, the strong manufacturing sector data from China that is described at a point will cause the price of brent oil to rise. Nowadays, the data that came back negative from the United States Dollar is described under the influence of falling levels of oil collected from the fact that in today's dollars, depending on the uncertainty, it is possible to rise a bit more. However, it's worth waiting for the fall before entering the uncertainty of the weekend. Declines occurred after the consolidation is completed , it may be safer to make the purchase.
- Date: 16 September 2016 Fri 10:20
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