• Oil is trading higher

Market news

10 November 2016

Oil is trading higher

This morning, the New York futures for Brent increased 0.73% to $ 45.62 and WTI up 1.19% to $ 46.91 per barrel. Thus, the black gold is gaining due to the release of data on the growth in US oil inventories. The reserves of black gold in the US rose by 2.4 million barrels to 485 million barrels last week, despite the fact that refineries increased production, and the volume of imports fell, reported US Energy Information Administration. According to BMI Research, Trump's position aimed at supporting the oil and gas industry, may mean that the "oil and gas production could recover faster in 2017, as the industry will get more support."

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.