Oil prices are dragged down as U.S.-Iran nuclear talks resume
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The US-Iran nuclear talks have progressed, and the market estimates that Iranian crude oil production is expected to return to the market, putting pressure on oil prices. Although API data showed that U.S. crude oil inventories fell last week, the EIA said in its monthly short-term energy outlook that it would raise its crude oil production forecast for 2023, and the number of confirmed cases of COVID-19 worldwide exceeded 19 million last week. Various factors dragged down oil prices, and there may still be downside risks.
The trend of USOil can be paid attention to tonight’s EIA crude oil inventory data and tomorrow Fed Mester speaks on the outlook for the U.S. economy and monetary policy, which will affect crude oil trends, and investors must grasp the timing of placing orders.
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