Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact 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 decline on data on stocks in the United States


March, 27 2024
watermark Economic news

Oil prices declined on Wednesday after the publication of data from the American Petroleum Institute (API), which indicated a significant increase in reserves in the United States.

The current price of Brent oil is $84.71 per barrel. Yesterday, the asset was trading near the $86.40 level. North American WTI oil shows a similar trend: a decline to $80.66 after rising to $82.20 per barrel. 
.
According to API data, oil reserves in the United States increased by 9.337 million barrels in the week ending March 22, which was the highest increase since mid-February 2023. Oil reserves at the terminal in Cushing, where Nymex-traded oil is stored, also increased by 2.4 million barrels.

Official data on energy reserves from the U.S. Department of Energy will be released later on Wednesday. 

In addition, the oil market continues to monitor the geopolitical situation and expects news from OPEC+. The alliance countries will hold a regular meeting on April 3 and will probably maintain the current production restrictions. Sources close to the organization claim that OPEC+ countries do not yet see the need to change production volumes.


コメントする

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
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.