Market updates and 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 prices rise amid global inventory decline


August, 25 2023
watermark Economic news

On Friday afternoon, world oil prices accelerated their growth by more than 1%. The increase is facilitated by data on a decrease in stocks in the United States.


The current Brent quote is $84.47 per barrel, North American WTI oil is trading near $80 per barrel.


Investors are actively analyzing the prospects for supply and demand in the oil market. According to experts, there is still a shortage of supply in the oil market.


Analysts emphasize that recent significant reductions in reserves indicate that the oil market remains in short supply. According to the report of the Ministry of Energy, last week commercial oil reserves in the United States decreased by 6.13 million barrels. At the same time, gasoline reserves increased by 1.47 million barrels, and distillates – by 945 thousand barrels. 


However, it is assumed that the demand for oil may decrease in 2024 and may be fully offset by an increase in supplies from non-OPEC countries.


Feedback

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.