Oil Goes Down Again

Despite record highs earlier this week, the price of crude oil began sliding down once more.

Economic News
26. Sept. 2017
Oil Goes Down Again

Recently investors who favor trading on the crude oil market saw a bit of good news: thanks to OPEC and several countries who export oil (but are not members of OPEC) such as Russia, as well as a slower American oil production due to the damages caused by natural disasters in the Americas, the supply of oil went down, which allowed for its price to increase. Oil managed to stay consistently above the psychological level of $50 per barrel, going as high as $56-57, reaching a two-year high in terms of price.

However, for now this has come to an end: investors were spooked by recent news from Turkey that due to the issue of Kurdish independence, Turkey might cut down exports. As a result, many traders who had open positions on crude oil deals chose to settle before they suffer any losses. After the massive profit-taking of today, the price of oil was eventually driven down.

American futures on crude oil are currently trading around $51.68, while Brent futures are at $58.17, down from their two-year record price of $59.49.

The price of oil might continue dropping, considering the United States is well-positioned to continue with its extensive shale oil extraction, which has consistently driven prices down over the past two-three years.

SuperForex
Investors in Search of a Quiet Harbor

Economic News

Investors in Search of a Quiet Harbor

The Gold and the yen resumed their growth.

SuperForex
26. Sept. 2017
Oil Prices Recovering

Economic News

Oil Prices Recovering

Analysts feel that for the first time in two years oil prices are on their way to recovery.

SuperForex
25. Sept. 2017
Political Pressure on Exchange Rates

Economic News

Political Pressure on Exchange Rates

Germany held parliamentary elections yesterday, which affected the financial markets.

SuperForex
25. Sept. 2017