Crude sags in Asia as American rig count gains

Crude sags in Asia as American rig count gains

On Monday, crude went down in Asia because the market digested fresh additions to the American rig count the previous week as well as firm output in the US.

January delivery US West Texas Intermediate crude futures dived 0.51% hitting $57.07 a barrel. Besides this, ICE Brent futures lost 0.38% hitting $63.09 a barrel.

This week crude traders are going to view monthly reports from OPEC and also the International Energy Agency for the purpose of evaluating global oil demand and supply levels. The given data will provide investors with a better picture of whether a rebalancing is taking place worldwide in the oil market or not.

The previous week, crude concluded higher on Friday, driven by signs of ascending crude demand in China, although prices didn’t’ manage to avoid a weekly loss amid worries over soaring output in America.

February Brent crude futures added 1.9% setting at $63.40 a barrel. Brent lost 0.6% for the week.

Similar

Gold declines on Fed remarks

On Wednesday, gold headed south and kept to a one-year minimum due to the fact the evergreen buck managed to strengthen on Fed Chair’s remarks, which backed views that the US major financial institution considers lifting its interest rates this year…

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