TODAY’S CRUDE OIL UPDATE BY SHREE MCX.COM

Oil Prices Start the Week Lower Amid Rising U.S., Russia Output

Oil prices were lower on Friday amid increasing U.S. output and as Iran criticized the U.S. for asking Saudi Arabia to output more oil to cover Iranian exports.

Crude oil futures decreased 0.86% to $65.38 a barrel as of 11:02 AM ET (15:02 GMT). Meanwhile Brent crude

Brent Oil


76.08-0.38  (-0.50%)
05:38:47 – Real-time CFD Data
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Technical Summary

5 mins:Strong Sell
Hourly:Strong Sell
Daily:Neutral
Monthly:Strong Buy
What is your sentiment on Brent Oil?

or

futures, the benchmark for oil prices outside the U.S., fell 1.46% to $76.19

U.S. President Donald Trump pulled out of a nuclear accord deal with Iran last month and has unofficially asked Saudi Arabia and other Organization of the Petroleum Exporting Countrie and Russia countries to increase supply.

Tehran spoke out against the request on Friday, saying OPEC would not heed the appeal.

Reuters reported May 25 that OPEC was considering raising supply by one million barrels per day as early as June, as the organization faces losses from Venezuela and Iran.

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