Crude ascends on tighter supplies

Crude ascends on tighter supplies

On Monday, crude rallied due to supply concerns in the Middle East. Additionally, the American market demonstrated further signs of tightening. Meanwhile, demand in Asia keeps going up.

Brent crude futures hit $57.87 rising 0.21% from their previous close.

American West Texas Intermediate crude futures reached $52.04 a barrel, gaining 0.39%.

Market experts point out that crude is staying above $50 because probable supply disruptions in the Kurdish region of Iraq underpin prices.

American oil output was also recently affected by a hurricane for the second time, while the overall number of American drilling rigs went down for the third week in a row.

The overall amount of American crude rigs drilling for fresh output sank by seven to 736 by October 20, which is the lowest outcome since June, as energy services company Baker Hughes disclosed on Friday.

In Asia, crude surge is still firm enough especially in India and China, which are one of the biggest crude importers in the world.  



Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera