- Analytics
- News and Tools
- Market News
- Oil prices declined
Oil prices declined
West Texas Intermediate futures for October delivery fell to $47.62 (-3.21%), while Brent crude dropped to $42.57 (-2.92%) as investors took profits after yesterday's surge.
Yesterday OPEC said in an article that it is ready to talk to other producers to help support oil prices. Declines in revenues from oil industry in undiversified economies of Gulf countries could lead to "loss of much-needed revenue required from member countries' socio-economic development".
At the same time Russian President Vladimir Putin and the President of Venezuela Nicolas Maduro will discuss "possible mutual steps" to stabilize global oil prices when they visit China this week to attend a military parade in Beijing dedicated to 70 years since the end of World War Two in Asia.
The Energy Information Administration published revised data on Monday. Thus U.S. domestic oil production reached slightly beyond 9.6 million barrels per day in April, but fell by more than 300,000 bpd over May and June.
© 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
