• Oil is trading flat

Market news

8 November 2016

Oil is trading flat

This morning, the New York futures for Brent rose slightly by 0.02% to $ 46.16 and WTI slightly dropped in price by 0.18% to $ 44.81 per barrel. Thus, the black gold is trading almost unchanged in anticipation of elections in the United States. Market participants consider Clinton as the candidate more predictable. Some positions Trump had on immigration and foreign policy issues are a concern for investors. At the same time, weak macroeconomic data from China put pressure on oil prices. China bought abroad 6.78 million barrels of oil in October, which is 12.9% less than in the previous month and the average daily volume this year.

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