Register
Demo
Contacts
 

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Oil prices are declining amid rising stocks in the United States

October, 23 2024
watermark Economic news

On Wednesday, the oil market saw a decline in prices due to data on the growth of crude oil reserves in the United States. Brent futures fell to $74.50 per barrel. Contracts for American WTI sank to $70.20.


According to market sources, oil reserves in the United States increased by 1.64 million barrels over the past week, exceeding the forecasts of analysts who expected an increase in reserves by 300 thousand barrels.


Despite this decline, the pressure on prices remains relatively moderate. Traders continue to closely monitor the development of the diplomatic situation in the Middle East, where the conflict between Israel and Iran continues, as well as the results of the visit of US Secretary of State Anthony Blinken to Israel.


Analysts note that the strengthening of prices on Tuesday may have been caused by the lack of concrete results from Blinken's visit. During the talks, the Secretary of State called on the Israeli authorities to increase humanitarian assistance to Gaza.


Despite the geopolitical instability, some analysts note that China's efforts to stimulate the economy can help stabilize and increase oil demand.


World-Class Trading Platform

Professional Customer Support

Best Execution

Logo

QUICK LINKS

+ 442 030 976 697
Contact Us
Feedback
twitter

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
defer(function(){ $("#cookies_modal").modal('show'); setCookie('fm_cookies', 'agree'); $(document).on('click', ".fm_cookies", function () { $("#cookies_modal").modal('hide'); setCookie('fm_cookies', 'agree'); }); }); function setCookie(key, value) { var expires = new Date(); expires.setTime(expires.getTime() + (10 * 365 * 1 * 24 * 60 * 60 * 1000)); document.cookie = key + '=' + value + ';expires=' + expires.toUTCString(); }
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.