Oil heads north in Asia

Oil heads north in Asia

On Wednesday, crude gained in Asia in a rebound from a steep dip of more than 2% overnight after a sudden draw in industry estimates of American inventories, though the market was still cautious ahead of official figures.

In New York, June delivery crude futures grew 0.86%, being worth $48.07 a barrel, having crossed a 1% profits earlier, while in London, Brent leapt 0.99%, showing $50.96 a barrel.

At the end of the previous week American oil inventories headed south a more than expected 4.16 million barrels, as the American Petroleum Institute unveiled on Tuesday, with gasoline supplies demonstrating a shocking draw of 1.93 million barrels. As for distillates, they sank 440,000 barrels.

Overnight, crude futures sank more than 2% because market participants weighed the impact of an OPEC-led deal, aimed at draining the glut in supply versus the uptick in global output.

Crude prices declined 2%, contributing to the 1% loss sustained in last session because market participants fretted about the steep surge in American output notwithstanding hopes that American crude stockpiles are set to edge down for a fourth straight week.


Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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