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Recevez les dernières nouvelles économiques de ForexMart, y compris les mises à jour des marchés financiers, les actions de la Banque centrale, les performances financières et d'autres nouvelles pertinentes qui pourraient avoir un impact sur l'industrie.

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Oil Rise Still Below Target Amid Oil Glut

Juin, 16 2017
watermark Economic news

Prices of oil surged on Friday maintaining its close to six-month lows because of excess supply amid OPEC method to reduce quantity produced to boost the crude market. This was influenced by the limited export since some trades are stopped in Libya.  

Brent crude futures cost $47.12 per barrel at 0656 GMT increased by 20 cents or 0.4 percent, more than their latest arrangement. On the other hand, the U.S. West Texas Intermediate (WTI) crude futures were set at $44.56 per barrel, gained 10 cents or 0.2 percent.

Although, the current rates remained lower by13 percent since the previous month following the cut production announcement by 1.8 million barrels per day in the succeeding nine months.

Numerous exports and production from Russia heightened the present oil glut. Oil rigs from the United States, specifically shale drillers, also factor into the futile attempt of OPEC to resolve oil excess.


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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.