Get ready for FOMC meeting
The US Fed Funds Rate announcement and Press Conference will be at 21:00 MT on January 29.
Crude inches down on ascending American crude inventories and output
On Thursday, crude markets went down, suppressed by soaring American crude inventories as well as output, not to mention a stronger greenback that potentially affects fuel consumption in countries, which utilize other currencies at home.
Brent crude futures demonstrated $56.13 a barrel, sliding 0.3% from their previous close.
American West Texas Intermediate crude futures hit $50.68 per barrel, declining 1 cent from the previous settlement.
Market participants told that a strengthening US currency had put pressure on Brent. At the same time ascending crude stocks as well as output in America had pressured WTI.
American commercial crude inventories tacked on for a third straight week, adding by 4.6 million barrels by September 15, hitting 472.83 million barrels.
Meanwhile, American crude output has mostly revived from the shut-downs caused by Hurricane Harvey. Well, currently US crude output accounts for 9.51 million barrels a day, which is up from 8.78 million bpd after the storm affected the US Gulf Coast.
Similar
OIL: back to the rising curve?
Events in Libya pushed the oil price up. So what's the strategy to benefit from it?
The oil market struggle: will the crude oil inventories help?
The oil prices experienced significant losses amid the US-Iran tensions at the beginning of the year. What's next?
Latest news
ZAR: an intriguing speech
The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?
CAD: is Canadian GDP puzzled?
Canadian monthly GDP will be out at 15:30 MT time on Friday.
The assets wrap: the best, the worst, and the most volatile
Let’s consider the best and the worst-performing assets as Monday’s session kicks in.
Deposit with your local payment systems
