• Oil: Prices rebound from overnight declines

Market news

14 November 2014

Oil: Prices rebound from overnight declines

Oil prices rebounded in today's session with Brent Crude trading +0.94% at USD78.22 a barrel, being positive for the first time in a week and WTI Crude gained +0.23% trading at USD74.38 as the OPEC will be more likely to cut production as a consequence of the low prices trading at four-year lows. The OPEC with its 12 member countries responsible for 40% of world's oil production is scheduled to meet in Vienna on November 27 to discuss 2015 production target. A weakening global demand has weighed over oil prices for the last months.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.