• Oil is gaining in early trading

Market news

7 July 2016

Oil is gaining in early trading

This morning, New York crude oil futures WTI rose 0.51% to $ 47.69 per barrel and crude oil futures for Brent rose 0.43% to $ 49.02 per barrel. Thus, the black gold is rising, amid the release of data that show a decrease in US oil inventories and dollar weakness. According to the American Petroleum Institute, oil reserves fell 6.7 million barrels to 520.9 million over the week. Analysts said the US data on the reduction of oil reserves was the main cause of rising prices.

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.