Here is our next video about crude oil forecast June 2021. WTI crude oil rose this week after Iran announced over the weekend that its three-month agreement with the International Atomic Energy Agency (IAEA) for monitoring nuclear activities had finished. IAEA won’t have access to data collected from cameras inside Iranian nuclear facilities.
However, according to our Crude oil forecast June, there are doubts that Iran will resume oil exports as the country might not comply with the nuclear commitments required to lift its sanctions. Talks between the world powers and Iran are set to continue which might affect Crude oil forecast next week.
One of the biggest holders for Crude oil has been the expected return of the Iranian barrels to the market. Any delays of the lifting of the sanctions should boost Crude oil June 2021. WTI crude oil price is now trading slightly higher at $66.13 or 0.12% up at 2:30pm UK time while Brent crude oil June is under pressure at 68.34 or 0.04% down.
WTI oil price is also lifted this week by a rise of American passengers taking flights – 1,863,697 travellers were reported at American airports on May 23 – the highest number since the lockdowns in March 2020. Re-openings of the economies in Europe and around the world are also lifting expectations of increased demand for WTI crude.
Watch the full video for our take on Crude oil price and a deeper insight into what to expect in the weeks ahead from our WTI crude oil forecast. Drop us a line in the comments with your thoughts on Crude oil June price. To be notified about the latest Crude oil forecast and news, subscribe to Capital.com, and click that notification bell.
***
Explore trading and start investing with Capital.com.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.25% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.