Crude hits the highest value since 2014

Crude hits the highest value since 2014

On Wednesday, crude reached their highest value since 2014 because of everlasting output cuts led by OPEC and healthy demand. However, market experts warned that markets might be overheating.

A broad global market soar, including equities, has also been driving investment right into crude futures.

American West Texas Intermediate crude futures hit $63.47 a barrel, gaining 0.81%, which is above their previous settlement. In early trade they marked a December-2014 maximum of $63.53 per barrel.

Brent crude futures reached $69.19 a barrel, adding 0.54%, which is above their previous close. In late Tuesday trade Brent hit $69.29, which appears to be its strongest outcome since an intra-day soar in May 2015 and also in December 2014.

Trying to back oil prices, in November 2017 the Organization of the Petroleum Exporting Countries along with Russia as well as a group of other producers extended an output cut deal, which should expire in March 2018 to cover all of this year.

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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