Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:
  • All news
  • Currencies
  • Stocks
  • Commodities



08.10.2012 15:46

Oil prices have fallen

Crude oil futures retreated on Monday as concerns about the debt crisis in the Eurozone continue to have an impact on reducing the demand for oil, and against the background of the worsening dispute between the political elite of Iran.

Futures declined due to a meeting of officials of the euro area, which takes place in Luxembourg. Investors also await the signal that Europe will review the situation regarding the worsening financial crisis in Spain.

The problems in Europe have weighed on the oil market and the financial crisis on the continent has reduced demand for oil and raised fears that the economic problems could spread to other places.

News helped boost the dollar against the euro, which will also reduce the price of oil, making dollar-denominated commodities more expensive for holders of other currencies.

We also learned that Iranian lawmakers have criticized President Mahmoud Ahmadinejad over the decline in value of the currency of Iran and its views on the economy. Recall that the Iranian president is under fire for months against the inability to resolve the confrontation between Tehran and the West over its nuclear program.

Investors are taking this step as a sign that Western sanctions are working, reducing the chances of an imminent military strike by Israel or the wider conflict that could disrupt crude supplies.

Oil prices fell by about 3% this month, as the market focus shifted back to the problems of slowing demand. Weakness in the U.S., Europe and China, which are the largest consumers of oil in the world is also providing significant pressure on the market. Friday relatively upbeat U.S. jobs report failed to stop the last one of the sources of growth for the market has been a series of recent surveys of oil refineries in the U.S., which caused a rise in gasoline prices. Note that in California, the retail prices approach $ 5 per gallon, while prices in the wholesale market fell on Friday.

Also today it was announced that the price of Brent oil over WTI oil prices reached their highest level since last October. Tensions over Iran is supporting oil Brent, while growth stocks in the U.S. is putting pressure on oil WTI.

November futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) is 89.48 per barrel on the New York Mercantile Exchange.

November futures price of North Sea Brent crude oil mixture is 111.94 dollars a barrel on the London Stock Exchange ICE Futures Europe.


Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
July 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Online
consultant
Request a callback
Top Page