- Analytics
- News and Tools
- Market News
- Oil: prices continue to rally
Oil: prices continue to rally
Brent crude and West Texas Intermediate are trading significantly higher today as recent selloffs to five-year lows were judged excessive by market participants. Speculations on low oil prices affecting future production further stabilized prices. Oil fell by almost half since June under pressure from concerns about forecasts slow recovery in global demand and oversupply of stocks. Last Friday, the International Energy Agency cut its forecast for global oil demand next year by 230,000 barrels per day to 900,000 barrels after similar cuts by OPEC and the Office of information in the field of Energy.
Brent Crude added +3.06%, currently trading at USD63.05 a barrel. Crude hit a low at USD58.50 this week. West Texas Intermediate rose +3.03% currently quoted at USD58.18.
© 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
