Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

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



03.11.2014 16:40

Oil: an overview of the market situation

Oil prices dropped moderately during today's trading, registering with a third-session decline in a row amid speculation that Saudi Arabia will reduce the price of oil in the sale of its Asian countries.

It is learned that this week's state oil company of Saudi Arabia announce official selling prices for crude oil supplies to Asia in December. Results of the survey showed Bloomberg: 7 traders believe that the world's largest oil exporter offer discounts, 6 traders predict immutability prices, and 2 traders expect increasing.

Pressure on prices also had mixed data on manufacturing activity in China, although the news about strengthening manufacturing activity in the euro area constrain the fall. Recall that in October the index of purchasing managers in the manufacturing of HSBC China rose to 50.4 compared with 50.2 in September. The final index remained unchanged from the preliminary. It is worth emphasizing data contradict the official HSBC manufacturing index PMI, which fell to a 5-month low - 50.8 from 51.1 in September. Official data published on Saturday.

Meanwhile, the final value of the manufacturing PMI eurozone, calculated by Markit, was in October of 50.6 points versus 50.3 points in September and preliminary values ​​of 50.7 points. Processing industry in Germany last month, returned to growth after a small reduction of activity in September, but in France, Italy, Greece and Austria, there is a weakening of indicators.

The course of trading continues to influence the Fed's decision. Following the results of a two-day policy meeting, the Fed completed its asset purchase program, referring to the improvement of the situation on the labor market, which also increased the demand for the US dollar. A strong dollar usually puts pressure on raw materials, reducing its appeal as an alternative asset and increasing the dollar price products for holders of other currencies.

Investors also are awaiting the OPEC meeting on November 27 where the decision will be made on further volumes of oil production.

The cost of December futures on US light crude oil WTI (Light Sweet Crude Oil) fell to $ 80.00 a barrel on the New York Mercantile Exchange (NYMEX).

December futures price for North Sea petroleum mix of mark Brent fell $ 0.59 to $ 85.69 a barrel on the London exchange ICE Futures Europe.

Market Focus

  • The Bank of Japan decided by a 7-2 majority vote to hold the interest rate at -0.10%
  • Earnings Season in U.S.: Major Reports of the Week
  • U.S. commercial crude oil inventories decreased by 4.7 million barrels from the previous week
  • Australian unemployment rate stable at 5.6% in June
July 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
1
2
24
25
26
27
28
29
30
31

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