Crude is set for the first weekly dip on oversupply concerns

Crude is set for the first weekly dip on oversupply concerns

On Friday, crude was mixed after recent declines, although the commodity was on track for the first weekly decline for six weeks, being suppressed by ascending American supplies as well as doubts over Russian support for extending a cut in crude output.

Brent crude futures LCOc1 hit $61.23 a barrel, sliding 13 cents from their previous close.

American West Texas Intermediate crude futures reached $55.32 a barrel, ascending 18 cents. Market participants told that firm American crude exports were backing WTI futures.

This commodity found itself on track to dive approximately 2%-4% for the week on concerns over surge in American output as well as inventories, after both benchmarks hit 2015 maximums the previous week.

Russian support for this formalized extension of output cuts at the anticipated November 30 OPEC gathering happens to be questionable enough, as some market experts told.



Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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