Market news
28.02.2014, 16:40

Oil: an overview of the market situation

Oil prices rose slightly , restoring previously lost ground. Slight pressure on the prices have U.S. data , which were worse than expected .

According to the report , the gross domestic product , the broadest measure of goods and services produced in the economy , rose to a seasonally adjusted annual rate of 2.4% in the last quarter of the year, compared with the initial estimate of 3.2%. About this Ministry of Commerce said on Friday . Economists had forecast a 2.6% increase .

U.S. economy grew in the third quarter of this year by 4.1 % , and the initial estimates for the fourth quarter increased hopes for higher growth , more rapid creation of new jobs and higher wages in 2014

However, pressure also had concerns about the upcoming spring season closing refinery maintenance : investors expect a reduction in oil demand in the U.S., which is the largest consumer of fuel in the world .

Meanwhile , we add that the fall in oil prices restrain currency market trends : euro on Friday rose to the maximum from the beginning of the year against the dollar . Commodities, the prices of many of which are expressed in U.S. dollars, usually rise in price after the weakening of the U.S. currency

"Oil does not respond as other markets risky assets due to winter and geopolitical issues in the Middle East . With the weather improved attractiveness of the market decline and the economic slowdown in China will only aggravate it . Prices should not be at this level " , - believes CEO of research firm Barratt's Bulletin in Sydney Jonathan Barrett .

April futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 102.55 per barrel on the New York Mercantile Exchange (NYMEX).

April futures price for North Sea Brent crude oil mixture rose 17 cents to $ 108.95 a barrel on the London exchange ICE Futures Europe.

© 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location