- Analytics
- News and Tools
- Market News
- Oil: prices dropped amid Greece crisis
Oil: prices dropped amid Greece crisis
West Texas Intermediate futures for August delivery dropped to $58.65 (-1.64%). Meanwhile Brent crude for August declined to $62.32 (-1.49%) a barrel. Prices dropped after media reported that Greece failed to reach an agreement with its creditors. Market participants are also waiting for news on sanctions against Iran. A possibility of cancellation of sanctions spurred fears that Iranian oil might add to the global glut, however some experts say that sanctions won't be lifted until compliance is verified. At the same time the verification process can take at least 4-8 months and additional crude oil will only flow from Iran by the first-quarter of 2016 at the earliest, even if the deal is finalized by July the 5th.
Oil prices are expected to be volatile this week.
© 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
