- Analytics
- News and Tools
- Market News
- Oil fluctuated in New York
Oil fluctuated in New York
Oil fluctuated as German investor confidence jumped to a seven-month high in December and as OPEC members gathered in Vienna to discuss output levels.
Prices swung between gains and losses as confidence in Germany, the biggest oil user in the European Union, increased more than economists forecast on speculation the economy will gather momentum next year. The Organization of Petroleum Exporting Countries will probably leave its production quota unchanged when it meets tomorrow.
The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed to 6.9 from minus 15.7 in November. Economists predicted a gain to minus 11.5, according to the median estimates.
OPEC crude output tumbled to the lowest level in 11 months in November as Saudi Arabia, the group’s biggest producer, pumped the least in 13 months, according to revised data in an e-mailed report from the group.
Crude for January delivery rose to $86.37 a barrel on the New York Mercantile Exchange.
Brent for January settlement on the London-based ICE Futures Europe exchange gained 42 cents, or 0.4 percent, to $107.75 a barrel.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
