Crude dives more than 1% on recovery in American output

Crude dives more than 1% on recovery in American output

On Friday, crude sank more than 1% because a bounce-back in American output outweighed everlasting dips in oil inventories.

If Friday's goes down last, it’s going to be the biggest weekly price drop since October this week.

Brent crude futures hit $68.46, losing 1.2% from their previous settlement. On Monday, they reached their highest value since December, 2014, sticking to $70.37 per barrel.

American West Texas Intermediate crude futures showed $63.02 a barrel, sliding 1.5% from their previous close. On Tuesday, WTI futures marked a December-2014 maximum of $64.89 per barrel.

Market participants told that the lower prices were caused by a recovery in American crude output after a recent sag and also by an expected dive in demand when winter is over in the northern hemisphere.

On January 12, American crude output kept to 9.75 million barrels a day, as data from the Energy Information Administration disclosed.

 

Similar

US Retail Sales

A change in retail sales is one of the most important economic indicators for the US economy and the USD.

Gold inches up

On Thursday, gold managed to gain due to the fact that the evergreen buck gave up some of its revenues, while relieving trade-war worries assisted traders in cutting bearish bets on other commodities…

Popular

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

Callback

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