• Oil is traded in the red zone

Market news

17 November 2016

Oil is traded in the red zone

This morning, the New York futures for Brent dropped 0.54% to $ 46.38 and WTI have fell 0.46% to $ 45.36 per barrel. Thus, the black gold is trading lower after yesterday's data that show a strong growth of US crude inventories. At the same time, optimism about the prospects for OPEC production cut fell again. One of the continuing obstacles to the deal - Iran's desire to ramp up production to 4 million barrels per day, while other OPEC members suggest a freeze at around 3.7 million barrels, Reuters says. However, they believe that in the end the consensus can still be achieved.


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.