Crude rises on tighter American market and Middle East tensions

Crude rises on tighter American market and Middle East tensions

On Wednesday, crude ascended, backed by a dip in American crude inventories as well as worries that tensions in the Middle East could affect supplies.

Brent crude futures LCOc1 hit $58.27, soaring 0.7% from their previous close.

American West Texas Intermediate crude futures CLc1 reached $52.08 a barrel, tacking on 0.4%.

Market participants told that prices were underpinned by a sag in American crude inventories and also deep concerns that combat actions in Iraq along with mounting tensions between Iran and America could disrupt supplies.

American crude inventories sank by 7.1 million barrels by October 13 hitting 461.4 million barrels, as the American Petroleum Institute reported on Tuesday.

Official American fuel inventory data is expected to be released by the Energy Information Administration on Wednesday.

Middle East tensions also contributed to a tightening American market, also pushing crude up.


Latest news

Evergreen buck heads north

On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…

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

Beginner Forex book will guide you through the world of trading.

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