• Oil is trading higher

Market news

9 December 2016

Oil is trading higher

This morning, the New York futures for Brent rose 0.71% to $ 54.27 and WTI rose 1.08% to $ 51.39 per barrel. Thus, the black gold is traded in the green zone on a weakening US dollar. Furthermore, support for prices had a reduction of oil reserves in the United States. According to the US Energy Information Administration (EIA), last week the commercial oil reserves in the country decreased by 2.4 million barrels, exceeding the forecast. At the same time it was recorded a significant increase in strategic stocks in Cushing.


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