Since the middle of March 2020, ESPO kept increasing from 33 to 64, nearly increased 100%. 

However, after the earier of Sep 2020, it becomes sideways market for nearly 3 month, and try to breakout 65 twice. 

Currently, it is quite uncertain. If the price can breakout 67, there is a highly possibility that the price can keep increase. Otherwise, it will keep sideways market. 

ESPO reached 3 month highest point

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Euro raise in the short term

On 1st July, at the beginning of an OPEC meeting in Vienna, Saudi Arabia's Oil Minister Khalid Al-Falih talks to journalists to extend oil supply cuts until March 2020.
This is because a weaken global economy and increased production from US.&nbsp;
Another reason is because U.S.-China trade war haven't have a finalised result, it still has the uncertainty of global economy which may decrease the usage of crude oil.
However, the production of U.S. is soaring, so the percentage of US increase and OPEC decrease will finally decide the trend of oil price.&nbsp;
In technical side, at a short-medium term, there is a signal of increase of oil price. RSI is 57, and Bollinger Bands also shows a long trend.

Ginny Yang

Ginny Yang

Dec 01 2020

ESPO reached 3 month highest point

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Ginny Yang

Dec 01 2020

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Ginny Yang

Dec 01 2020

Euro raise in the short term

Ginny Yang

Dec 01 2020

OPEC extends Oil cut to increase the Prices

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