• Oil prices increase on a weaker U.S. dollar and due to profit taking

Noticias del mercado

4 agosto 2015

Oil prices increase on a weaker U.S. dollar and due to profit taking

Oil prices increased on a weaker U.S. dollar and due to profit taking. Oil prices yesterday dropped on concerns over the global oil oversupply and on the weaker-than-expected Chinese manufacturing data. The Chinese manufacturing PMI declined to 50.0 in July from 50.2 in June. Analysts had expected the index to remain unchanged.

A reading above the 50 mark indicates expansion, a reading below 50 indicates contraction.

The final Chinese Markit/Caixin manufacturing PMI declined to 47.8 in July from 49.4 in June, missing expectations for a fall to 48.2.

Concerns over the global oil oversupply still weigh on oil prices as OPEC continue to raise its oil output, and Iran may raise its oil output after reaching a nuclear deal.

Market participants are awaiting the release of U.S. crude oil inventories data. The American Petroleum Institute (API) is scheduled to release its U.S. oil inventories data later in the day, and U.S. oil inventories data from the U.S. Energy Information Administration is expected on Wednesday.

WTI crude oil for September delivery increased to $46.23 a barrel on the New York Mercantile Exchange.

Brent crude oil for September rose to $50.25 a barrel on ICE Futures Europe.

Enfoque del mercado
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
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: