Oil prices traded lower on the Friday’s decision by the OPEC and on lower Chinese oil imports

Market news

8 June 2015

Oil prices traded lower on the Friday’s decision by the OPEC and on lower Chinese oil imports

Oil prices traded lower on the Friday's decision by the OPEC and on lower Chinese oil imports. The OPEC decided last week to keep its oil production unchanged at 30 million barrels a day.

"Member Countries, in agreeing to this decision, confirmed their commitment to a stable and balanced oil market, with prices at levels that are suitable for both producers and consumers," the OPEC noted.

Chinese oil imports plunged 11% in May from a year earlier.

WTI crude oil for July delivery declined to $58.29 a barrel on the New York Mercantile Exchange.

Brent crude oil for July fell to $62.66 a barrel on ICE Futures Europe.

European stocks close: stocks closed lower on the uncertainty over the Greek debt crisis

Gold price traded slightly higher in quiet trade

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

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.