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On April 12, local time on the 11th, Hungarian Prime Minister Orban said that the EU and Ukraine intend to drag Hungary and Slovakia into war by cutting off the transit of Russian natural gas. In this context, the "Turkish Stream" natural gas pipeline is crucial to Hungarys energy security. Hungary will firmly safeguard its own interests, and Turkey is an important partner of Hungary. "Turkish Stream" is a natural gas pipeline from Russia to Turkey through the Black Sea, transporting Russian natural gas to Turkey and then to southern and southeastern Europe through Türkiye.Russian Ministry of Defense: Ukraine has launched five attacks on Russian energy infrastructure in the past 24 hours.Russian Foreign Minister Lavrov: Venezuelan President will visit Russia on May 9.April 12, Bank of England Monetary Policy Committee member Green said on Saturday that it is not clear what impact Trumps import tariffs will have on British inflation, and the unpredictable trend of the US dollar makes this mystery more difficult to solve. Green said in a panel discussion at the Delphi Economic Forum in Greece that the increase in trade barriers may drag down economic growth in European countries, "but the implications for inflation are unclear." But Green said that the most important thing to pay attention to is the change in the exchange rate: "The key channel is actually the exchange rate, and this is really difficult because the exchange rate has not been running as the model shows in the past week." "The US dollar exchange rate has fallen, not appreciated as people expected."According to AFP: World Health Organization member states reached an "in principle" agreement on Saturday to respond to future pandemics.

Crude Oil Price Prediction - Crude Oil Market Retracement

Daniel Rogers

Aug 31, 2022 11:28

 截屏2022-08-04 下午5.10.59_1024x576.png

 

The West Texas Intermediate Crude Oil market has retreated from the 50-day exponential moving average, indicating instability. At this point, the market is likely to experience significant volatility, with the $90.00 level below serving as potential support. If this level is breached, it is expected that the market will decline dramatically, maybe reaching the $85 level. This market continues to exhibit a great deal of erratic behavior, so I believe it's just a matter of time before buyers return; nevertheless, I do not believe the market knows what to do in the current scenario. I believe there are a number of factors currently working against the value of crude oil, not the least of which is the fact that the world economy is set to experience a severe downturn.

 

Brent markets have retreated during Tuesday's trading session as well, as we approach the 200-day exponential moving average (EMA). The 200 Day Exponential Moving Average is approaching the $97.40 mark, and it may provide some technical support. If this level is breached, it is anticipated that the market would decline to $92.50.

 

If we break above the highs of the previous 48 hours, the market might reach $105 per share. The prospect of a move to the $110 level is created if this level is breached. In spite of this, there is a great deal of noise in the market as a result of the Iranian deal potentially allowing for more oil to enter the market, a halt in output, and OPEC's suggestion that they may reduce. In other words, anticipate increased volatility.


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