Unexpected Increase in US Inventory Weighs on Oil Prices Amid Demand Worries LeapRate

February 15, 2024 BY PureContent

Unexpected Increase in US Inventory Weighs on Oil Prices Amid Demand Worries

Gasoline and distillate went in the opposite direction and declined, the reason likely being BP's (LON: BP) shutdown of its Whiting and Indiana oil refineries, the biggest in the Midwest. The Whiting refinery underwent an extensive modernisation project that was completed in 2013. It cost over $4.2bn and greatly increased the refinery's capacity to process…

April 21, 2020 BY Valentina Kirilova

Daily market commentary: Brent has fallen noticeably, the collapse has been even more dramatic for WTI

EUROPEAN SHARES European stock markets opened lower on Tuesday as energy shares led benchmarks down following yesterday’s historic rout on oil. Analysts and traders clearly didn’t expect black gold to go below zero and this has unsurprisingly had a negative impact on European oil majors like Total and Eni, which are currently trading 5% lower…

February 23, 2017 BY Valentina Kirilova

Oil prices are up after report shows drop in U.S. stocks

Oil prices accelerated today after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. Benchmark Brent crude oil LCOc1 was up 70 cents a barrel at $56.54 by 1025 GMT, recovering from a drop of 82 cents on Wednesday. U.S. light crude…

November 09, 2016 BY Valentina Kirilova

Oil prices stabilize after Trump's win, trade above $46

Oil reversed early losses of almost 4% and was traded above $46 a barrel on Wednesday, as the market recovered from the initial reaction to Donald Trump's surprise victory in the U.S. presidential election. The dollar however steadied and European stocks pared losses. Brent crude (LCOc1) was up seven cents at $46.11 a barrel by…

June 14, 2016 BY Mike Fox

FXPRIMUS launches new range of oil instruments

CySEC regulated FXPRIMUS today has announced the launch of new tradable instruments: Brent Crude Oil (UKOIL) and WTI (OIL), and Spot Oil, which is non-expiring (USOIL.sp & UKOIL.sp). This move follows the launch of FXPRIMUS’ new three pillar strategy to provide SAFETY through EDUCATION and TECHNOLOGY, whereby the company places greater emphasis on the provision of…

January 14, 2015 BY Andrew Saks-McLeod

EXNESS predicts the dollar may drop to 45-50 RUB in 2015

“The drop of Brent Crude oil prices to 50 USD per barrel will likely lead to the dollar growing to 64 rubles in the short term. Moreover, S&P's lowering of its rating for the Russian Federation to below "BBB-" in January may provoke a massive sell-off of Russian assets" - Sergey Kochergin, Senior Analyst, EXNESS

October 25, 2013 BY Gerald Segal

CME Group reports record Crude spread trading volumes

Oil's roller coaster ride has helped crude trading volumes in October. Based on information we've received from across the forex and CFD trading world, the second half of October has seen strong trading volumes in crude oil and related products, as the oil price volatility has increased (see chart below), primarily on the downside. With…

May 16, 2013 BY Gerald Segal

CME Group reports record volumes for Oil spread trading

Record setting volume numbers continue to hit global markets from FX to Commodities. Record volumes in 2013 for Gold trading, Forex trading, and now Oil trading.... CME Group, which runs the world's largest derivatives marketplace, announced it has reached record volumes (open interest) for Brent-WTI spread options. The CME saw 126,675 contracts traded yesterday (May…

Tag: Brent Crude