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Saturday, 21 October 20:46 (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.

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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.

 

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OPEC Urges American Shale Oil Producers to Join Oil Agreement

The OPEC is reported to have offered American shale oil companies to join the Vienna Accord, also known as the OPEC+, which is the agreement designed to cap the production of crude oil and restore the market balance for the sake of higher oil prices in the future. However, some experts say that they won’t agree to do so even if they are threatened.

Publication date: 13 October 05:14 AM

Russia and Saudi Arabia Want to Extend OPEC Deal for 3 Months

Russia and Saudi Arabia insist on extending the OPEC deal for another 3 months – up to middle 2018.

Publication date: 29 August 03:56 AM

S&P 500 Becomes Most Profitable Assets Since 2008 Financial Crisis

Deutsche Bank analysts have complied the list of the most profitable financial assets over the last 10 years. S&P 500 is recognized the best asset for long-term investments. Those who have been investing in this asset since 2007, now can enjoy slightly over 100% on top of their investments, the experts report. American junk bonds yield to S&P 500 in terms of profitability. As of the Russian stock market, it’s one of the outsiders.

 

 

 

Publication date: 21 August 04:58 AM

Dow Jones Industrial Average Set New All-Time Record, Above 22K Points

The Dow Jones Industrial Average (DJIA) is reported to have set a new all-time record. For the first time in its history, the index has exceeded the 22K threshold.

 

 
For those of you who don’t know, the Dow Jones Industrial Average is one of the oldest and most significant indexes indicating the health of the American stock market. It was created by Charles Dow and Edward Jones. In 1889, Mr. Dow founded The Wall Street Journal, one of America’s first business editions. In 1896, The WSJ published the DJIA for the first time when analyzing the current state of the U.S. stock market for the first time. Back then, the DJIA was at 40,94 points, NordFX experts report.
Publication date: 04 August 06:09 AM

OPEC Increases Oil Production To Highest Volume Since Early 2017

The OPEC’s average daily level of oil production saw another high in June 2017. To be more specific, they produced 260K barrels a day more than in May 2017. The biggest gainers in term of oil production were Libya and Nigeria. Those are the OPEC members that didn’t sign the so-called Vienna Accord, which is why they are not obliged to freeze their oil production.

Publication date: 05 July 12:31 AM

Why Are OPEC and Russia Unable to Trigger Oil Price Rally?

Not so long ago, oil prices reached the 10-month low. Since early 2017, oil prices have already dropped by 20%. The low efficiency of the joint efforts to cap oil production in order to support oil prices is now rated differently by the international expert community.
 
Publication date: 01 July 12:57 PM

Crude Oil Plunges Below $45/b

Oil prices keep on going down. Yesterday, for the first time since November 2016, the price of Brent oil dropped below $45/b. to be more specific, later on the trading day, a barrel of Brent oil cost $44,63 in London (ICE Futures). This means that the price dropped by 3% over the trading day. A day before, the trading session ended up with $46,02/b, NordFX reports. This is the lowest price since November 15, 2016.

 

 
Publication date: 21 June 11:36 PM

Trading Week Starts with Oil Price Drop

On Monday, June 19, crude oil is getting cheaper worldwide. Experts say that the price drop has to do with the recent report on the amount of oil rigs in the United States. In particular, the report says that the amount of such rigs has grown over the last week.
 

 

Baker Hughes reported on June 16 that 6 new rigs had been activated over the reporting period, thereby setting a new major high – 767 units, which is the biggest amount of functioning oil rigs since April 2015. By the way, the amount of oil rigs has been continuously growing over the last 22 weeks, which is also the new 30-year record.
Publication date: 19 June 02:27 AM

Brent Drops Below $48/b Amid Qatar’s Paradox

The Qatar crisis failed to push oil prices higher as expected by those who had previously extended the so-called Vienna Accord. Yesterday, on June 7, the global market of crude oil got feverish. The reasons for that was all about the tensions around Qatar, which is an oil exporter from the Persian Gulf.
 
Publication date: 08 June 01:17 AM

Russia Wants Expensive Oil. Is It Really That Beneficial for the Russian Economy?

As you probably know, both Russia and Saudi Arabia are interested in lower oil supply in the global market since the deficit is expected to push oil prices higher, thereby resulting in bigger profits from their oil exports further down the road. That is why they seem to be doing their best to contribute to this ambitious goal.

Publication date: 06 June 11:06 AM