Parvin Faghfouri Azar

Oil under Pressure despite Positive Demand Outlook

Brent crude briefly hit $70 per barrel and West Texas Intermediate rose above $66 this week as improving economic outlooks for some of the world’s biggest economies boosted optimism. Although a round of profit-taking by hedge funds limited the upward potential of the benchmarks, it was a temporary occurrence, and …

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Europe’s Zero Pollution Dreams

Of all the objectives in the European Green Deal, presented in December 2019, the “Zero Pollution Action Plan” immediately jumped out as the one policymakers were likely to struggle with the most. “Creating a toxic-free environment” with zero air, water and soil pollution is something hardly anyone can disagree with. …

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US Oil Neutral in $63.88-$65.45 Range

US oil looks neutral in a range of $63.88-$65.45 per barrel. The bias seems to be towards the downside. The contract failed again to break a resistance at $66.52. The failure suggests the formation of a triple-top around this level. The pattern will be confirmed when oil breaks $63.88. It …

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Iran’s Non-Oil Exports Grow 46%

Head of Iran’s Customs Administration (IRICA) Mehdi Mir-Ashrafi said that the country exported $5.6 billion worth of non-oil goods and commodities to foreign countries from March 21 to May 15, 2021, showing a 46% rise compared with the same period last year. Mir-Ashrafi said that some 15.5 million tons of …

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