For Traders

Analytical Reviews

News

07.11.201816:51 Forex Analysis & Reviews: Oil prices jumped to rise after falling the day before

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The cost of Brent crude on the world market moved to an increase to $ 73.50 a barrel after falling to $ 71.30 the day before. Quotes of American oil WTI rose to $ 62.77 per barrel. The driver of their rise was the message that OPEC + is discussing the possibility of reducing oil production in 2019.

Yesterday, the price of oil fell after the news of the provision of a number of countries temporary exclusion from oil sanctions against Iran. Additional pressure on the quotes had a report from the American Petroleum Institute (API), reflecting the growth of stocks of crude oil in the US by 7.8 million barrels.

Saudi Arabian Energy Minister Khalid al-Falih said that OPEC + intends to sign an agreement on indefinite cooperation in December, and all countries will be able to set new indicators to reduce oil production for next year.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.