Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Monday, 11 December 14:53 (GMT -05:00)



Stock and commodities markets

October Starts With Crude Oil Downtrend


Friday’s trading session made crude oil go in the red zone. According to Masterforex-V Academy experts, the USA started increasing the production and export of crude oil, and the international trading community has been concerned about that ever since, which is, by the way, is believed to be the key reason for this price drop.
 

 

 

 

According to MarketWatch, both Brent and WTI were going down in value on Friday, driven by the mentioned concerns. However, there are market rumors that the OPEC and some of their non-OPEC fellows are going to extend the Vienna Accord to cap their oil production in order to prevent oil prices from crashing.
 
ICE Brent futures (London) lost 0,11% or $0,06 and dropped down to $56,94/b. A day before, the futures gained 2,15% or $1,2 and reached $57/b. WTI futures for November delivery also lost 0,16% or $0,08 and moved down to $50,71/b. A day before, the futures gained 1,62% or $0,81 and reached $50,79/b.
 

 

NordFX experts report that this is the first weekly drop since early September 2017.

s_2017_10_06_at_09_47_39.jpg

Americans Produce More Oil
 
According to Wednesday’s report published by the U.S. Department of Energy, the domestic production of crude oil grew by 14K barrels a day and reached 9,561 million barrels a day. At the same time, the U.S. export of crude oil increased by as much as 31% all the way up to 1,98 billion barrels a day while the daily import shrank by 231K barrels. To be more specific, the aggregate export of crude oil and oil products grew by more than 1 million barrels a day and reached a new record at 7,02 million barrels a day.
 
Not so long ago, the leaders of Russia and Saudi Arabia met to discuss cooperation. They are reported to have backed the idea of further and tighter cooperation in the OPEC+ format.
 

 

Another major factor to consider in the near future is the weather. A tropical storm is about to hit the U.S. coast. ExxonMobil and Chevron are suspending the work at some of their oil rigs, which will affect the production of crude oil.

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

CBOE Launches World’s First Bitcoin Futures

As promised, the CBOE launched the world's first Bitcoin futures on December 10th at 15 p.m. Central Standard Time (CST). The first BTC futures trading session started at 15000 USD/BTC. Within the first couple of minutes, there were 150 transactions processed. Over the first 20 minutes, the exchange rate increased up to 15940 USD/BTC. Lateronitwenttemporarilyupto 16600 USD/BTC.

Publication date: 11 December 02:26 AM

American Shale Oil Producers Enjoy OPEC+ Deal Extension

On the last day of November, the OPEC and several non-OPEC oil exporters met in Vienna to discuss the future of the global oil market during the OPEC summit. The summit ended with extending the OPEC+ deal until the end of 2018. Experts say this decision means the OPEC+ participants have lost the long-term oil war with American shale oil companies.

Publication date: 03 December 11:03 PM

OPEC Is Worried About U.S. Shale Oil Production Prospects

The OPEC is concerned that their American rivals producing shale oil may catch at the chance given them by the OPEC+ deal. The deal is aimed to cap oil production and restore the market balance in favor of higher oil prices. The OPEC+ agreement is likely to be extended during the forthcoming OPEC summit on November 30th in Vienna, Austria.

 
Publication date: 29 November 11:49 AM

U.S. Stats Pushed Oil Prices Higher

According to online source Finanz, the U.S. crude oil inventories shrank over the past week, which pushed oil prices higher. After 3 weeks of retracing, crude oil is rallying confidently again. The Brent oil futures for January delivery reached $63,29/b, which is 1,15% higher than a day before. At the same time, The WTI oil futures for January delivery gained more than 2% and reached $57,94/b, which is the highest level since July 2015.

Publication date: 25 November 01:14 AM

Oil Market Is Under Pressure In Advance of OPEC Summit

Publication date: 24 November 07:01 AM

Saudi Arabia Doesn’t Want Oil Prices to Grow Too Fast

Reuters reports that Saudi Arabia doesn’t want oil prices to grow too fast. This is what Minister of Energy, Industry and Mineral Resources of Saudi Arabia Khalid A. Al-Falih told during his speech at the UN Climate Change Conference 2017 in Bonn, Germany.

Publication date: 19 November 08:58 AM

What’s the Fair Price of Crude Oil Today?

For many economies out there, especially those dependent on the export of crude oil, oil prices have always been a major indicator to monitor. These days, the international expert community is divided over the future of the global oil market. 

Publication date: 18 November 09:36 AM

Crude Oil Stops Being a Lifeline for the Russian Ruble

 The U.S. Dollar is getting more expensive against the Russian Ruble again as the Russian currency is feeling pressure from the new round of the Western sanctions. Crude oil seems to have stop saving the day for the Russian economy and national currency.

Publication date: 18 November 09:33 AM

Oil Market Shows No Reaction To Optimistic OPEC Report

Oil market showed almost no reaction to the annual OPEC oil report released on November 13th, even though the report happened to be fairly optimistic. In particular, while WTI oil futures for December delivery increased in price by as little as 0,11% up to $56,80/b, Brent oil futures for January delivery lost 0.09% and moved down to $63,46/b.

Publication date: 18 November 09:26 AM

Russia Is Still Dependent On Crude Oil

Is the Russian economy getting rid of its dependency on crude oil? Even though Russian politicians say that’s really the case, famous Russian economist Igor Nikolaev tried to find out the truth backed by figures.

Publication date: 17 November 11:52 AM