Crude sags for second day on oversupply worries

Crude sags for second day on oversupply worries

On Tuesday, crude prices went down, dipping for a second day and losing more strength from a third-quarter soar, amid indications that a global glut in crude might not be clearing as rapidly as some had expected.

American crude futures CLc1 slumped 0.3% being worth $50.44 having closed the previous session down 2.1%.

The US benchmark reported a third quarter revenue of approximately 12%, which is its strongest quarterly ascend since the second quarter of last year, although it has currently sagged 5% from a six-month maximum hit on Thursday.

Brent crude futures slid 0.3% demonstrating an outcome of $55.93 a barrel.

On Monday, Iraq told that exports inched up moderately from its southern oilfields in September, while an earlier Reuters poll showed that the Organization of the Petroleum Exporting Countries managed to boost crude output.

The previous week crude soared on tension in Iraqi Kurdistan right after the region's independence vote. Turkey threatened to close a pipeline, which supplies oil to the Mediterranean from the region in northern Iraq.

Similar

US Retail Sales

A change in retail sales is one of the most important economic indicators for the US economy and the USD.

Gold inches up

On Thursday, gold managed to gain due to the fact that the evergreen buck gave up some of its revenues, while relieving trade-war worries assisted traders in cutting bearish bets on other commodities…

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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