Crude prices are firm, braced for greatest weekly revenue since mid-May

Crude prices are firm, braced for greatest weekly revenue since mid-May

On Friday, oil futures found themselves on track for their greatest weekly revenue since mid-May, concluding five weeks of losses with prices backed by a dip in American output.

This week American crude futures gained 5.1% percent, while benchmark Brent futures earned 4.7%, thus demonstrating the greatest leap for both markets since May 19.

Crude prices gained momentum from Wednesday's American data and the crude market rejected the recently observed minimums.

Data indicating a dip in American output powered financial markets this week after oil prices reached a 10-month minimum the previous week in the face of a mounting supply glut.

American crude output went down 100,000 barrels per day, hitting 9.3 million bpd the previous week, which is the steepest weekly decline since July 2016.

At the same time, the North Sea crude market is demonstrating signs of long-lost strength. It drops a hint that some of the pessimism, which has driven down crude futures and generated a record bet versus a price soar might be unjustified.


Brent overleaps $65 for the 1st time since 2015

On Tuesday, Brent crude futures rallied above $65 a barrel for the first time since 2015 following the shutdown of the Forties North Sea pipeline, which knocked out considerable supply from a market, which was already tightening because of OPEC-led…

Gold sinks moderately in Asia

On Tuesday, gold sank a bit in Asia, with language from the Federal Reserve after its Wednesday’s rate announcement considered to be key for direction…


Bank of Canada Meeting

The Bank of Canada will publish its rate statement at 17:00 MT time on December 6…

promotions you can be interested in

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

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