Crude edges down on sliding Chinese crude imports

Crude edges down on sliding Chinese crude imports

On Wednesday, crude prices went down because Chinese crude imports declined to their lowest value in a year. However, market participants told the overall market is still backed due to OPEC-led supply cuts.

Investors told they were monitoring growing tensions in the Middle East, especially those between regional counterparts Iran and Saudi Arabia.

Brent futures showed $63.33 a barrel, losing 0.6%. The given sag actually follows Brent soaring to an over two-year maximum of $64.65 earlier this week.

As for American West Texas Intermediate crude futures, they demonstrated $56.90 a barrel, descending 0.5% from their previous settlement.

China's October crude imports went down abruptly from September’s nearly record-maximum of nearly 9 million barrels a day to about 7.3 million bpd. That’s what the General Administration of Customs informed on Wednesday. It turns to be the lowest outcome since October 2016, although imports managed to gain 7.8% from 2016.

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