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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 rose above $93.50 per barrel

September, 14 2023
watermark Economic news

Oil prices continue to rise on Thursday amid the weakness of the US dollar. 


The current price of Brent oil is $93.58 per barrel. North American WTI oil is trading near $90.12 per barrel. 


The market was supported by a report from the International Energy Agency (IEA), according to which global oil demand in the second half of 2023 will increase by 1.5 million barrels per day, exceeding supply by 1.24 million barrels. 


The IEA also noted that there was a shortage in the global oil market in the third quarter, as a more active reduction in supply coincided with record high demand. 


Meanwhile, the DXY index, which displays the value of the US dollar against six key world currencies, fell by 0.03% to 104.56 points. This makes goods whose prices are pegged to the dollar more attractive to buyers.


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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.