Register
Demo
Contacts
 

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an 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.

Oil returned to below $80 after a sharp rise

October, 08 2024
watermark Economic news

On Tuesday, oil declined from the area of local highs, as investors began to take profits after a significant increase the day before.


Yesterday, Brent reached new highs since the end of August, breaking the $81 per barrel mark. The current quote of the asset is $79.20 per barrel. North American WTI crude is trading near $75.40 after yesterday's rise to $77.70 per barrel.


Last week, oil strengthened amid geopolitical tensions in the Middle East, where traders fear possible Israeli attacks on Iran's oil facilities. An additional risk arose in the Gulf of Mexico, where Chevron temporarily stopped work on its Blind Faith oil and gas platform due to the hurricane.


The API report on oil and petroleum products reserves in the United States is expected to be released today, preceding the official data of the Ministry of Energy. However, traders are now primarily focused on geopolitics, which has a greater impact on market sentiment.


World-Class Trading Platform

Professional Customer Support

Best Execution

Logo

QUICK LINKS

+ 442 030 976 697
Contact Us
Feedback
twitter

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.