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.

Brent has come close to the level of $90 per barrel


April, 03 2024
watermark Economic news

The oil market is growing steadily on Wednesday: Brent oil quotes almost came close to the level of $ 90 per barrel. 


Analysts note the growing risks of oil supplies in connection with Iran's statements about a possible response to the Israeli airstrike on its consulate in Damascus.


Also today, market participants drew attention to the meeting of the OPEC+ monitoring committee. However, the committee's ministers have not submitted any recommendations to the alliance, and a full-scale OPEC+ meeting is scheduled for June 1.


Some pressure on the quotes was exerted by data from the US Department of Energy on crude oil reserves in the country. Commercial oil reserves increased by 3.21 million barrels last week to 451.42 million barrels. Gasoline inventories decreased by 4.26 million barrels and amounted to 227.82 million barrels. Commercial distillate stocks decreased by 1.27 million barrels to 116.07 million barrels.


Experts expected a decrease in oil reserves by 1 million barrels, an increase in gasoline reserves by 100 thousand barrels and a drop in distillate reserves by 1 million barrels. As a result, Brent dropped slightly to $89.80.


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.