- Analytics
- News and Tools
- Market News
- Oil: Prices recover slightly and edge up close to USD65 a barrel
Oil: Prices recover slightly and edge up close to USD65 a barrel
Brent crude and West Texas Intermediate recovered from five-year lows helped by a weaker U.S. dollar. Brent Crude added +0.98% trading at USD64.87 a barrel, and West Texas Intermediate gained +0.80% currently quoted at USD61.43. Oil prices were under further pressure after comments from Saudi Oil Minister Ali al-Naimi on Wednesday that he sees no reason why Saudi Arabia should trim output rates and that the oil price is going to balance itself. Other OPEC members are evaluating whether to call for an emergency meeting early next year or not.
Yesterday Kuwait offered the biggest discount to its Asian customers since December 2008, following Saudi Arabia and Iraq and the OPEC published data showing that demand for its crude will fall to its lowest in 2015 in more than ten years.
© 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
